Sotheby’s to auction off rare blue diamond valued at a record $35M

The Blue Moon diamond


On the auction block:  A diamond like no other. A near-flawless 12.03 carat. blue diamond valued at a record $35 million or more is set to be auctioned off via Sotheby’s on November 11th in Geneva. Yahoo reports that prior to the sale it will be on exhibit in Hong Kong, London and New York.

This one-of-a-kind gem, appropriately called “Blue Moon,” was found last January “standing alone” in South Africa. Bloomberg further explains its origins: It “was polished out of a 29.62-carat rough diamond found by Petra Diamonds Ltd. at the Cullinan mine in South Africa. Cora International, a New York-based gem cutter, purchased the diamond and took more than six months to prepare the stone.”

According to a statement made by Sotheby’s, David Bennett, the head of the firm’s international jewelry division says it is safe to believe the hype, which “has now been proven to be totally justified.

“Blue diamonds are formed when boron mixes with carbon when the gem is formed” and this one has the highest possible color grade of “fancy vivid blue,” It is the largest cushion-shaped stone ever to appear at auction.

Bloomberg offers some perspective, citing, “The record sale for a blue diamond so far came in November last year, when a 9.75 carats fetched $32.6 million at an auction in New York.”