6.03 Carat Internally Flawless Blue Diamond Unsold at Major Geneva Auction

 

A rare 6.03 carat fancy vivid blue internally flawless diamond failed to secure a buyer at the recent Sotheby’s Geneva High Jewelry Sale, despite carrying a pre sale estimate between USD $9 million and $12 million. The exceptional blue diamond was the headline lot of the May 12 auction held at the Mandarin Oriental in Geneva.

Although the blue diamond remained unsold, the auction itself was considered a strong success, achieving more than USD $30 million in total sales with 93% of lots sold. Sotheby’s reported its highest participation levels in a Geneva jewellery sale in more than five years, with an average of more than five bidders competing for each sold lot.

Collectors from over 30 countries participated in the auction, with strong interest from buyers across the United States, Asia, Europe and the United Kingdom. Fancy coloured diamonds, important gemstones and signed vintage jewellery continued to dominate buyer demand.

According to Jessica Wyndham, Head of High Jewelry at Sotheby’s Geneva, collector appetite for coloured gemstones remains exceptionally strong, while white diamonds are also experiencing renewed demand. Signed jewellery from iconic maisons, particularly bold 1970s and 1980s designs from Bulgari, significantly exceeded expectations during the sale.

The top performing lot of the auction was a perfectly matched pair of unmounted diamonds, each weighing 18.38 carats. Both diamonds were graded Type IIa and D colour, with one graded flawless and the other internally flawless. The pair sold for more than USD $3.2 million. The diamonds were sourced by De Beers from Botswana’s renowned Jwaneng Mine as part of a collaboration with Sotheby’s showcasing exceptional provenance diamonds.

Another standout lot was the “Peacock of Ceylon,” a remarkable 102.4 carat unheated cushion cut sapphire, which achieved nearly USD $2 million at auction.

A further highlight included a 4.12 carat pear shaped fancy pink internally flawless diamond ring, which sold for USD $1.4 million. The Type IIa diamond, graded by the Gemological Institute of America, featured excellent polish and was mounted between tapered baguette diamond shoulders.

The failure of the vivid blue diamond to sell highlights the increasingly selective nature of today’s high end gemstone market, where rarity alone is no longer enough to guarantee a record result.

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