De Beers Cullinan Blue Diamond Could Bring $48M at Auction

De Beers Cullinan Blue Diamond

Sotheby’s will auction a stone described as “the largest vivid blue diamond ever to appear at auction” on April 27 in Hong Kong.

Sotheby’s estimates that it could bring $48 million.

Cullinan Blue Diamond

The 15.1 carat step-cut blue was cut from a rough stone discovered in April 2021. It is “the largest internally flawless step cut vivid blue diamond that the Gemological Institute of America (GIA) has ever graded,” according to a press statement.

“This diamond ranks as one of the best De Beers has ever seen,” said Bruce Cleaver, CEO of De Beers Group. “It is extremely rare and unique, and as the Home of Diamonds, De Beers is pleased to join together with Sotheby’s to bring this diamond to the world.”

Only five blue diamonds over 10 carats have ever come to auction, Sotheby’s notes. Until now, none has exceeded 15 carats.

“Blue diamonds of any kind are rare on the market, but this is the rarest of the rare; nothing of remotely similar calibre has appeared at auction in recent years,” says Patti Wong, chairwoman of Sotheby’s Asia. “Hundreds of millions of years in the making, this extraordinary blue diamond is surely one of nature’s finest creations.

The diamond comes from the Cullinan mine in South Africa.

Source: DCLA

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ALROSA Takes Steps to Offer the Market Additional Supplies of Rough Diamonds

               ALROSA Rough Diamonds

In line with its approach of fostering long-term sustainable development of the diamond market, ALROSA gives its customers an opportunity to adjust their diamond purchase schedules under trading sessions.

The demand for rough diamonds in early 2022 as well as in the second half of 2021 was outstripping supply, as cutters were actively buying rough to restock and fulfill the orders placed by jewelers and retailers.

Given the primary importance of a balanced market and the need to meet the real-backed demand, ALROSA offers its long-term customers a new option to adjust supply schedules between trading sessions. As a result, holders of long-term contracts can buy rough diamonds from their allocations ahead of the schedule by shifting booked volumes to an earlier date.

“The first quarter of the year is traditionally a period of active rough diamond purchases, as cutters seek to stock up after a holiday season in retail. The high season of 2021 was one of the most successful ones in the entire history, as we see robust demand from our customers underpinned by real orders. By reaffirming its commitment to a prudent and balanced policy aimed at sustainable progressive growth of the industry, ALROSA offers its customers a new option of adjusting diamond purchase schedules within their allocations by requesting the part of the booked rough diamond volumes to be moved to an earlier date. We believe that this innovation, together with the Gokhran auction slated for late February 2022, will speed up progress in addressing current market deficit. With the same goal in mind, we will hold an additional tender between trading sessions. We will offer the rough diamonds highly sought-after by cutters as soon as these goods leave the work-in-progress,” said Evgeny Agureev.

Long-term contracts for a 3-year period with major jewelry holdings, cutters, traders, and consumers of industrial diamonds make up the core of ALROSA’s sales system and traditionally account for the largest part of the company’s turnover. ALROSA makes special efforts to guarantee responsible business practices across the diamond production chain. 

Source: DCLA

Enigma Black Diamond Sells For $4.3 Million At Auction

Sotheby’s sold a 555.55 carat Fancy Black Diamond believed to have come from outer space for an astronomical $4.28 million at auction on Tuesday. Bidding closed at £3.2 million, excluding buyer’s premium. This diamond will be offered without reserve.

The Enigma, as it is known, is the largest cut diamond in the world, according to Guinness World Records, with 55 facets. It weighs more than the Great Star of Africa, (530.2 carats), and the Golden Jubilee, (545.67 carats). Rare carbonado type black diamonds are assumed to have extraterrestrial origins because they contain small amounts of nitrogen and hydrogen, and may be more than 2 billion years old.

“The size, shape and source of the Enigma diamond make it groundbreaking and amazing,” says Tobias Kormind, cofounder and managing director of European online jeweler 77 Diamonds. “Apart from being the largest cut diamond in the world, the Enigma is remarkably unusual for additional reasons.”

Sotheby’s announced that it would accept cryptocurrency for The Enigma. LEON NEAL/GETTY IMAGES

The Enigma’s exquisite cut and finish added fuel to the final auction price. The original Enigma was purchased in the late 1990s and would have weighed over 800 carats in its rough, freshly unearthed form. It took more than three years to sculpt it into its current shape. According to Sotheby’s, despite its staggering weight, the Enigma is rare because it only has 55 facets, yet has “such a high degree of polish that is almost inconceivable.”

Kormind says that while most diamonds are cut into one of ten popular shapes, the Enigma resembles a hand, another rarity in the jewelry industry. Its shape is a nod to the Middle Eastern palm symbol, the Hamsa, a sign of protection and a tool of deflection against the evil eye; it also represents blessings, power and strength, according to Sotheby’s. 

While the final hammer price of The Enigma did not set a record, Kormind says: “What cannot be denied is that The Enigma is a diamond with unparalleled bragging rights.” He adds, “Just imagine revealing to your guests you are the owner of the world’s largest cut diamond.” 

Enigma Black Diamond

Source: DCLA

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