US EditionRare blue diamond fetches $21.5 mn at auction in Geneva
- Sotheby's auction house sold a rare 10.3-carat blue diamond named 'The Mediterranean Blue' for $21.5 million in Geneva late Tuesday.
- The diamond, recently mined from the Cullinan mines in South Africa, was first announced in March and unveiled at Sotheby's Abu Dhabi exhibition in April.
- The auction for the rare stone began with an opening bid equivalent to approximately $10.8 million, sparking intense bidding before it was purchased by a private collector from the United States who chose to remain anonymous.
- Quig Bruning of Sotheby's described the diamond as the standout gem of the season and one of the finest blue diamonds they have ever auctioned, while Tobias Kormind noted that although the final price surpassed the $20 million estimate, the overall sale was less impressive than expected.
- The strong final price reflected meaningful interest, though ongoing US-China trade tensions and broader uncertainty likely dampened a more intense bidding environment.
31 Articles
31 Articles
Rare blue diamond from Cullinan mine in SA fetches R392m at auction in Geneva
An exceptionally-rare blue diamond went under the hammer in Geneva, selling for $21.5 million (R392 million), Sotheby’s auction house said. “The Mediterranean Blue”, a fancy vivid blue diamond weighing 10.3 carats with an estimated value of $20 million, attracted an intense bidding battle. Bidding began at nine million Swiss francs ($10.8 million), with a fierce back and forth before the diamond was ultimately sold to a private US collector, who…
Rare blue diamond fetches $21.5M
(UPDATE) AN exceptionally-rare blue diamond went under the hammer in Geneva late Tuesday, selling for $21.5 million, Sotheby's auction house said. "The Mediterranean Blue," a fancy vivid blue diamond weighing 10.3 carats with an estimated value of $20 million, attracted an intense bidding battle. Bidding began at nine million Swiss francs ($10.8 million), with a fierce back and forth before the diamond was ultimately sold to a private US collect…
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