Rare ‘Mellon Blue’ Diamond Fetches $25.5 Million at Christie’s Geneva – Market Reflects Shifting Demand for Coloured Diamonds

The legendary Mellon Blue Diamond a 9.51-carat fancy vivid blue, internally flawless gem sold for $25.5 million USD at Christie’s Magnificent Jewels auction in Geneva this week. The sale, held at the Four Seasons Hotel des Bergues, drew global attention from elite collectors and gem enthusiasts alike.

The Mellon Blue once belonged to renowned art collector Rachel Lambert “Bunny” Mellon, whose refined taste and cultural influence continue to shape the world of art and jewellery. Despite its exquisite pedigree, the price achieved represents a 22 percent decrease from its previous sale 11 years ago and a nearly 60 percent drop in real value when adjusted for inflation.

Originally auctioned at Sotheby’s in 2014 as part of Mellon’s estate collection, the diamond fetched $32.6 million USD, setting a world record for a blue diamond at that time. Adjusted for inflation, that sum equates to approximately $44.7 million in 2025.

Christie’s had estimated the gem between $20 million and $30 million, and the final sale once again highlighted the continuing prestige of exceptional coloured diamonds despite softer market conditions.

Rahul Kadakia, Christie’s Chairman of Global Luxury and President of Asia Pacific, remarked:

“It was a true honour to offer for sale the exquisite Mellon Blue Diamond here at Christie’s Geneva. It was another notable moment for Christie’s Luxury, evidencing the elite appetite amongst collectors for extraordinary and storied gems.”

The winning bidder, identified only as a collector from Hong Kong, continued the stone’s legacy of global fascination.

While the Mellon Blue once held the world record for a blue diamond, that benchmark has since been overtaken by two other remarkable stones:

• The 14.62-carat Oppenheimer Blue, sold at Christie’s in 2016 for $57.5 million USD
• The 15.10-carat De Beers Cullinan Blue, sold by Sotheby’s in 2022, also for $57.5 million USD

These historic sales underline the rarity and enduring appeal of fancy vivid blue diamonds, which represent less than 0.1 percent of all diamonds, and of those, fewer than 1 percent qualify as fancy vivid.

Bunny Mellon, who passed away in 2014 at age 103, was celebrated not only for her wealth being heiress to the Listerine and Mellon fortunes but also for her artistry and impeccable taste. She famously designed the White House Rose Garden and curated an impressive art collection that included two Rothko masterpieces, which together realised $76 million USD at auction.

When Christie’s announced the diamond’s return to auction earlier this year, Kadakia described the sale as a tribute to Mellon’s lasting influence, saying her legacy “elevates the Mellon Blue’s allure by tying it to her sophisticated aesthetic and cultural prominence.”

The auction itself was as heated as the competition literally with the auctioneer requesting the windows be opened mid-sale to cool the room as bidding intensified.

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About DCLA: The Diamond Certification Laboratory of Australia (DCLA) is the official CIBJO-recognised diamond laboratory in Australia, specialising in independent diamond grading and certification. DCLA ensures the highest international standards of accuracy, integrity, and transparency in diamond evaluation.

6.95-Carat Pink Diamond to Headline Vanderbilt Family Jewels Auction in Geneva

A spectacular 6.95-carat fancy vivid purplish pink Golconda diamond will lead The Geneva Jewels Auction: V, as Phillips Geneva prepares to offer an extraordinary collection of jewels once owned by the legendary Vanderbilt family, once America’s richest dynasty.

Among the highlights is a Tiffany & Co. 42.68-carat sugarloaf Kashmir sapphire and diamond brooch, estimated at US$1 million to US$1.5 million, alongside a step-cut Kashmir sapphire and diamond ring weighing 18.09 carats (estimate US$2.2 million to US$2.8 million). The sale also features a stunning pair of brilliant-cut diamond ear studs, weighing 8.00 and 8.28 carats, both graded D colour, VVS1 clarity, with an estimate of US$600,000 to US$850,000.

The Vanderbilt name is synonymous with immense wealth and American industrial power. The family’s fortune began with Cornelius Vanderbilt, who, at age 16, borrowed $100 from his mother to start a ferry service in 1810. He later built a shipping and railroad empire that made him the richest man in the United States, worth about $100 million at his death in 1877 — equivalent to at least $185 billion today.

His son, William Henry Vanderbilt, further doubled that fortune to over $200 million (around $370 billion in today’s terms). However, the family’s wealth gradually dispersed over subsequent generations, with the combined net worth of the Vanderbilt descendants now estimated at around $200 million.

The Geneva Jewels Auction: V, featuring The Vanderbilt Family Jewels, will take place on 10 November at Phillips Geneva, marking a rare opportunity for collectors to acquire pieces linked to one of America’s most storied families.

Source: DCLA

Rare 10.3-Carat ‘Mediterranean Blue’ Diamond Sells for $21.5 Million at Sotheby’s Geneva Auction

Mediterranean Blue’ Diamond

A rare 10.3-carat fancy vivid blue diamond, known as The Mediterranean Blue, has sold for an astonishing $21.5 million (17.9 million Swiss Francs) at Sotheby’s High Jewellery Auction in Geneva. This exceptional gemstone not only topped the auction but was also the headline piece of Sotheby’s week-long jewellery sales in Switzerland.

Intense Bidding War Over a Fancy Vivid Blue Diamond
The auction, livestreamed globally, saw a fierce bidding battle that began at 9 million Swiss Francs. Within the first minute, the price surged to 13 million, eventually narrowing to two determined phone bidders. After two and a half minutes of competitive bidding, the final hammer price landed at 15 million Swiss Francs, with additional premiums pushing the total sale price to $21.5 million.

The winning bidder was represented by Frank Everett, Vice Chairman of Jewelry, Americas at Sotheby’s. The blue diamond had been estimated at $20 million prior to the auction.

From Cullinan Mine to Record Sale
The Mediterranean Blue diamond was cut from a 31.94-carat rough blue diamond discovered in 2023 at the legendary Cullinan mine in South Africa, a source renowned for producing some of the world’s most important blue diamonds. Sotheby’s revealed that the rough stone underwent a full year of study before undergoing a meticulous six-month cutting and polishing process to achieve its final cushion modified brilliant-cut form.

Global Tour Boosted Demand
Sotheby’s launched a worldwide exhibition tour of the blue diamond, beginning with its unveiling at their inaugural show in Abu Dhabi. It was then displayed across the Middle East, Asia, and the United States, generating significant interest from collectors and high-net-worth buyers. The gem was showcased alongside seven other ultra-rare diamonds and gemstones, with the total collection valued at over $100 million.

A Defining Stone of the Season
Quig Bruning, Sotheby’s Head of Jewelry for the Americas & EMEA, described the diamond as a milestone for the season:

“It is undoubtedly the defining stone of the season and ranks among the top blue diamonds we have ever sold. The excitement it generated during its global tour reflects the increasing demand for rare, investment-grade diamonds and a growing flight to quality among collectors.”

Source: DCLA

Rare 10-Carat Blue Diamond Could Fetch $20 Million at Sotheby’s Geneva Auction

A remarkable 10-carat blue diamond, dubbed the “Mediterranean Blue Diamond,” is expected to achieve up to $20 million when it goes under the hammer at Sotheby’s in Geneva on 13 May. The diamond, which boasts the highly coveted “fancy vivid blue” colour grade, represents one of the most prized and rare categories in the world of coloured diamonds.

Discovered in 2023 at South Africa’s famed Cullinan mine, the Mediterranean Blue was originally a rough diamond weighing an impressive 31.94 carats. What followed was an extraordinary journey — a full year of study, including precise analysis to maximise both beauty and value, and six months of planning and expert cutting to reveal the gem in its final cushion-shaped form.

Sotheby’s, which is overseeing the auction, describes the diamond as a standout in its class. Jessica Wyndham, head of high jewellery at Sotheby’s Geneva, remarked, “The market for coloured diamonds continues to go from strength to strength.” Indeed, blue diamonds of this size and calibre are vanishingly rare, and collectors around the world are likely to compete fiercely for the chance to own such an exceptional gem.

Fancy vivid blue is the highest grading for coloured diamonds, denoting a saturation and purity of colour that few stones ever achieve. The Mediterranean Blue, with its intense oceanic hue and exceptional clarity, is a testament to nature’s rarity and human craftsmanship.

Over the years, similar diamonds have fetched extraordinary prices. In 2016, the “Oppenheimer Blue,” a 14.62-carat fancy vivid blue diamond, sold for a staggering $68.7 million at Christie’s in Geneva, setting a world record for any fancy vivid blue diamond sold at auction. That same year, another exceptional blue stone — a 24.18-carat intense blue diamond also mined from the Cullinan site — sold for $25 million, reinforcing the global appetite for ultra-rare coloured diamonds.

The Cullinan mine, known for producing some of the world’s most famous diamonds — including parts of the Cullinan I and II, which are part of the British Crown Jewels — has once again proven its status as a source of legendary stones.

With demand for coloured diamonds surging, particularly among high-net-worth collectors and investors seeking portable, tangible assets, the upcoming sale of the Mediterranean Blue Diamond is expected to draw worldwide attention.

Its appearance at auction not only marks a rare opportunity to acquire a gem of unmatched beauty and provenance, but also reflects the continuing strength and allure of the coloured diamond market — where rarity and story combine to create lasting value.

Source: DCLA

The Golconda Blue: The Largest Fancy Vivid Blue Diamond Ever Seen at Auction

Christie’s is preparing to showcase something truly extraordinary — The Golconda Blue, a 23.24 carat Fancy Vivid Blue diamond, set to headline the Magnificent Jewels auction in Geneva on 14 May. Held at the Four Seasons Hotel des Bergues, this remarkable stone carries an estimate of between $35 million and $50 million.

Mounted in a ring designed by the legendary JAR, The Golconda Blue is not only the largest Fancy Vivid Blue diamond ever offered at auction — it’s also one of the rarest and most historically significant diamonds in existence.

Its journey through history is as dazzling as the stone itself. Originally owned by Yeshwant Rao Holkar, the Maharaja of Indore — a prominent patron of art and fine jewellery in the 1920s and 1930s — the diamond was first set into a bracelet by Chaumet in 1923. A decade later, Mauboussin transformed it into a necklace worn by the Maharani, immortalised in a striking portrait by Bernard Boutet de Monvel.

In 1947, the diamond was acquired by none other than Harry Winston, who later sold it as a brooch to the Maharaja of Baroda. After years of being held privately, The Golconda Blue is now returning to the public eye for the first time in decades.

Rahul Kadakia, Christie’s international head of jewellery, called it “a once-in-a-lifetime opportunity,” noting the auction house’s long history with legendary Golconda diamonds such as the Archduke Joseph, the Princie, and the Wittelsbach.

The term Golconda itself refers to the legendary diamond mines of Eastern India, famous for producing some of the world’s most luminous, transparent, and pure gems. Among them are historic stones like the Koh-i-Noor, the Hope Diamond, and the Darya-i-Nur — and now, The Golconda Blue joins this rarefied list.

This sale is not just about a diamond. It’s about history, heritage, and the timeless allure of one of nature’s most breathtaking creations.

Source: DCLA

5.72-ct Blue Diamond Sells for $8.8m

A 5.72 carat fancy intense blue diamond beat its high estimate and sold for $8.8m yesterday (10 December) at Christie’s New York.

The cushion brilliant cut VVS1 stone, set in a platinum ring with round diamonds, was the highlight of the Magnificent Jewels auction.

The price realized was $1,539,336 per carat. The pre-sale estimate was $6m to $8m.

The second highest price was for a pair of Harry Winston spinel and diamond earrings. They sold for $2,228,000—four times their high estimate of $600,000.

The sale raised a total of $49.2m, with 97 per cent of the 179 lots finding buyers. 

Rahul Kadakia, Christie’s international head of jewelry, said: “Today’s sale in New York was a testament to the vibrant market for jewelry of the highest caliber with singular provenance.

“We were particularly pleased with the result of the top lot – a fantastic fancy intense blue diamond ring that sold for $8.8m.”

The Fancy Color Research Foundation gave the blue diamond a visual score of 8 out of 12 in its pre-sale analysis, noting its low color dispersion.

It said: “True Face-Up: Equivalent to that of a 9.15 carat which is ~59.9 per cent larger than the average

“Analysis: A Fancy Intense Blue Cushion brilliant-cut diamond,  polished as a classic colorless diamond, probably manufactured during the 1960s or 1970s. 

“The diamond’s inner-grade is very strong, and modifying its facet alignment could increase its saturation to vivid. No significant gray undertone is present in the color.”

Source: DCLA

Qatari Royal Family in Court over Idol’s Eye Diamond

A legal battle over the Idol’s Eye, a 70.21 carat very light blue, eye shaped Golconda diamond, began on Monday (11 November) at the High Court, London.

Two branches of Qatar’s royal family are in dispute over the value of the gem – which could be anywhere between $10m and $27m.

The disagreement is between Qipco, a private investment company run by art collector Sheikh Hamad bin Abdullah al-Thani – a cousin of Qatar’s ruler Sheikh Tamim bin Hamad Al Thani – and Elanus Holdings, a company linked to the family of former culture minister Sheikh Saud bin Mohammed Al Thani.

Elanus loaned the diamond to Qipco in 2014 for 20 years, with an option to buy but the two sides disagree over the value of the stone. It is reported to be worth at least $10m, but according to a Reuter’s report, Elanus’s diamond expert has valued it at $27m.

Qipco says Elanus offered to sell the gem in February 2020, but then pulled out. Elanus disputes this.

Qipco is asking the High Court to force Elanus to go through with the sale.

The Idol’s Eye has a long and complex history. It was recovered in 1600 in the Kollur Mine, part of the Golconda Sultanate in southern India, was initially owned by Prince Rahab of Persia, and was auctioned by Christie’s London in 1865.

It has changed hands many times and has, at various stages, been owned by Harry Winston and Laurence Graff.

Source: DCLA

5 carat Blue Diamond with $10m US Estimate

A stunning platinum ring featuring a 5.02 carat blue diamond is set to headline Christie’s Hong Kong auction later this month, with an estimated value of up to US $10.3 million (HKD 80 million).

The centerpiece is an internally flawless, fancy deep blue marquise brilliant-cut diamond, graded by the Gemological Institute of America (GIA).

Dating back to 1923, the ring is listed in the auction catalog as “property of a lady,” though further details about the owner remain undisclosed.

This exquisite piece will lead the highly anticipated 124-lot Magnificent Jewels live sale on October 29, alongside a pair of diamond “Oriental Sunrise” earrings.

These earrings showcase two fancy vivid orange yellow diamonds (12.20 carats and 11.96 carats) and share the same US $10.3 million (HKD 80 million) high estimate.

Source: DCLA

Blue and Pink Diamond Ring Fetches $3.7m

A “Toi et Moi” ring featuring blue and pink diamonds – both over 5.0-cts – sold for $3.7m (£3m) almost double its high estimate, at Bonhams London.

The ring was crafted and signed by Mouawad, the Geneva-based jeweler to royalty and high society, which was founded in 1890. It carried a pre-sale estimate of $1.3m to $1.9m (£1m to £1.5m).

The radiant-cut fancy intense blue diamond, weighing 5.03 carats, is obliquely-set with a radiant-cut fancy purple-pink diamond, weighing 5.13 carats. The gallery and shoulders are pave-set with brilliant-cut diamonds of pink and blue tint.

The 113-lot sale, on 13 June, made a total of £6,590,562, with 78 per cent sold by lot and 99 per cent sold by value.

Source: DCLA

Rare blue diamond sells for USD $44 million at Christie’s

Christie’s has auctioned one of the rarest blue diamonds in the world for a staggering $44 million.

On Tuesday, the stone called the “Bleu Royal” went under the hammer as one of the highlights of the auction house’s Luxury Week sale in Geneva, far outstripping the presale estimate. It is the first time the stone has been sold at auction, having been in private hands for the past half century.

Set into a ring, the 17.61 carat, pear shaped diamond is considered the largest internally flawless vivid blue diamond to have ever come to auction, and had a presale estimate of $35 million. At the sale, it eventually realised $43.8 million, making it the most expensive jewel sold at auction this year.

Source: DCLA

Bulgari Laguna blue diamond could fetch $28m in auction

A rare 11.16 carats fancy vivid blue diamond could fetch between 22 to 25 million Swiss francs ($24 to $28 million) when it goes under Sotheby’s hammer next week in Geneva.

Named the Bulgari Laguna Blu, the pear-shape cut diamond boasts a rich blue hue that the auction house qualifies as “extraordinary” and “mesmerizing”.

It is the highest grade blue diamond ever graded by the Gemological Institute of America (GIA) and the third-largest pear-shaped fancy vivid blue diamond to ever go for sale on an auction, according to Olivier Wagner, head of jewellery at Sotheby’s Geneva.

The gem, first exhibited at the famous Met Gala fashion show in New York on Monday, is expected to attract the interest from global collectors.

Source: DCLA

No Buyer for 3ct. Blue Diamond at Sotheby’s

A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby’s Geneva auction.

Sotheby’s withdrew the stone from Tuesday’s Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was the auction house’s first live event since the onset of the coronavirus pandemic, and followed Part I, which took place online.

An oval-shaped, 21.56-carat, D-color, VVS1-clarity diamond ring by Lorraine Schwartz, valued at $1.5 million to $2 million, also went unsold. Other colored diamonds were not purchased, including a duet ring set with a pear-shaped, 3.03-carat, fancy-intense-blue diamond and a pear-shaped, 2.82-carat, D-color, VVS1-clarity diamond, as well as a step-cut, fancy-vivid-yellow diamond ring weighing 16.43 carats.

Meanwhile, the top-selling lot at the sale was a marquise-shaped, 7-carat, fancy-intense-pink diamond ring, which was auctioned for the first time after spending 30 years in a private collection. The piece sold for $2.8 million, within its $2.4 million to $3.4 million estimate.

Other notable items included a pear-shaped, 5.29-carat, fancy-grey-blue diamond ring, which garnered $2.1 million, beating its $1.2 million high estimate. A pair of cushion-shaped, D-color, VVS2-clarity diamond earrings, weighing 13.50 carats and 13.52 carats, fetched $1.5 million against an estimate of $1.2 million to $1.8 million.

Sapphires also proved popular, with a cushion-shaped, 105.89-carat ring going for $1.7 million, more than double its $670,000 high estimate. A cushion-shaped, 16.11-carat sapphire ring bracketed by diamonds also sailed past its $490,000 upper valuation, achieving $524,000.

Source: Diamonds.net

No Buyer for 3ct. Blue Diamond at Sotheby’s

A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby’s Geneva auction.

Sotheby’s withdrew the stone from Tuesday’s Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was the auction house’s first live event since the onset of the coronavirus pandemic, and followed Part I, which took place online.

An oval-shaped, 21.56-carat, D-color, VVS1-clarity diamond ring by Lorraine Schwartz, valued at $1.5 million to $2 million, also went unsold. Other colored diamonds were not purchased, including a duet ring set with a pear-shaped, 3.03-carat, fancy-intense-blue diamond and a pear-shaped, 2.82-carat, D-color, VVS1-clarity diamond, as well as a step-cut, fancy-vivid-yellow diamond ring weighing 16.43 carats.

Meanwhile, the top-selling lot at the sale was a marquise-shaped, 7-carat, fancy-intense-pink diamond ring, which was auctioned for the first time after spending 30 years in a private collection. The piece sold for $2.8 million, within its $2.4 million to $3.4 million estimate.

Other notable items included a pear-shaped, 5.29-carat, fancy-grey-blue diamond ring, which garnered $2.1 million, beating its $1.2 million high estimate. A pair of cushion-shaped, D-color, VVS2-clarity diamond earrings, weighing 13.50 carats and 13.52 carats, fetched $1.5 million against an estimate of $1.2 million to $1.8 million.

Sapphires also proved popular, with a cushion-shaped, 105.89-carat ring going for $1.7 million, more than double its $670,000 high estimate. A cushion-shaped, 16.11-carat sapphire ring bracketed by diamonds also sailed past its $490,000 upper valuation, achieving $524,000.

Source: Diamonds.net

Blues Lead Fancy Colour Prices

Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.

Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.

By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.

Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.

The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.

Source: DCLA

Blues Lead Fancy Colour Prices

Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.

Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.

By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.

Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.

The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.

Source: DCLA

Graff Blue Diamond Ring To Lead Christie’s Auction

Fancy colour diamonds will lead Magnificent Jewels sale on Wednesday.

Topping the sale is a Fancy Vivid Blue Diamond  ring designed by Graff Jewellers. Estimated price is $6.5 million – $8.5 million USD.

The two Vivid blue Diamonds weighing approximately 3.36 and 2.71 carats with VVS2 and VS1 clarity grades are set in a crossover design, In a platinum setting.

Source: DCLA 

Graff Blue Diamond Ring To Lead Christie’s Auction

Fancy colour diamonds will lead Magnificent Jewels sale on Wednesday.

Topping the sale is a Fancy Vivid Blue Diamond  ring designed by Graff Jewellers. Estimated price is $6.5 million – $8.5 million USD.

The two Vivid blue Diamonds weighing approximately 3.36 and 2.71 carats with VVS2 and VS1 clarity grades are set in a crossover design, In a platinum setting.

Source: DCLA