Blue Diamond breaking Record Sale

The De Beers’ Cullinan blue diamond, the 15.10 carats step-cut fancy-vivid blue diamond was auctioned for HK$450.9 million ($57.5 million) at Sotheby’s in Hong Kong. The price is amongst the highest ever achieved, and considerably higher than the $48 million estimated before the auction.

The diamond was recently cut from a rough stone found in the Cullinan Mine in South Africa in 2021. After polishing it became the largest fancy vivid blue to go to auction as well as the largest internally flawless step cut vivid blue diamond that GIA has graded. 

The rarity of blue diamonds, especially with the size and color of the Cullinan Diamond, are reflected in the long bidding battle and the final price per carat achieved in the auction. In the past few years auctions of color diamonds have seen a few price records broken, and this current auction shows that the trend continues. 

Picture courtesy: Sotheby’s