12 Oct

Cartier ‘Sky Blue’ Diamond Ring could Fetch $25 Million

Blue diamonds continue to take center stage on the international auction market. The latest entry is a Cartier ring with an 8.01-carat fancy vivid blue diamond under the name, “Sky Blue Diamond.” It is the lead item in Sotheby’s auction of Magnificent Jewels and Noble Jewels in Geneva to be held November 16.

The centrepiece of Sotheby’s November auction of Magnificent Jewels and Noble Jewels in Geneva – a Fancy Vivid Blue diamond ring by Cartier – has been unveiled in London. Weighing 8.01 carats, the mesmerising stone has been named ‘The Sky Blue Diamond’, emphasising its highly sought-after hue. It will be offered on 16 November with a pre-sale estimate of USD $15–$25 million.

‘The Sky Blue Diamond’ has been graded Fancy Vivid Blue by the Gemological Institute of America (GIA) – the highest possible colour grading, awarded to no more than 1% of blue diamonds submitted to the GIA. It was also found to have excellent polish and to be of Type IIb, a rare category which represents less than 0.5 % of all diamonds.

Describing the diamond, David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, said, “The Sky Blue Diamond is of a wonderfully clear celestial blue, presented in an extremely elegant square emerald cut – in my view, the most flattering of all the cuts for a coloured diamond. This important gem will, I am sure, captivate all collectors of exceptional gemstones.”

Within the past two years alone, Sotheby’s has twice set a new world record auction price for a blue diamond, most recently with the only diamond or gemstone in auction history to have exceeded $4 million per carat, the Blue Moon of Josephine (sold for $48.5 million ($4,028,941 per carat) in November 2015).

In recent years, colored diamonds have been highly prized at auctions with blue diamonds being the most sought after—setting numerous records. Among them:

* The 14.62-carat “Oppenheimer Blue” diamond, which sold for more than $57.5 million at Christie’s Geneva in May, setting a world record for any jewel sold at auction.

* The 12.03-carat “Blue Moon of Josephine,” which sold for $48.4 million at Sotheby’s Geneva, November 2015, setting a world record for the price per karat for any diamond or gem at just over $4 million.

* The 9.75-carat Zoe Diamond, which sold for more than $32.5 million at Sotheby’s New York, November 2014.

* The 10.10-carat Millennium Blue Fancy, which sold for more than $31.8 million at Sotheby’s Hong Kong, April 2016.

* The 24.18-carat “Cullinan Dream,” which sold for $25.3 million at Christie’s New York in June.

If it meets or exceeds its high estimate, the Sky Blue Diamond will be among the most expensive blue diamonds ever sold at auction.

Source: Sotheby’s, October 12th, 2016
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