Rare Blue Diamond for Sale in Hong Kong

Rare Blue Diamond for Sale in Hong Kong
Tobias Kormind, co-founder of 77 Diamonds comments, "Despite record breaking sales at Sotheby's Hong Kong auction on 7 October 2013, the main attraction Premier Blue diamond failed to reach its minimum reserve. Had it sold at the highest bid of $16.12 million, at it would have broken the previous per carat record by 25% ($2.1m versus $1.6m per carat for the 6.01ct Fancy Vivid Blue Diamond sold in October 2011). It seems the owners priced in too rich a premium to what the market was willing to pay. However, a gigantic 118ct Oval shape diamond sold for $30.6m, which set a new record for a white diamond sold at auction and helped the total sale achieve a record $95m in total sales.

What next? As the Premier Blue is incredibly rare and a must have for the few elite collectors able to afford it, it is now likely to be sold to a private collector for an undisclosed amount in the coming months. Why is it so special? At 7.59ct (slightly larger than a shirt button) what makes this diamond so unusual, is that it is the largest blue of this quality ever to have been sold at auction or certified by a diamond laboratory (Gemological Institute of America or GIA). It is a completely pure stone in terms of inclusions (graded Internally Flawless). The colour is not only Vivid Blue (the highest blue grading), but has been determined to be a perfect saturated even hue of vivid blue. Finally the fact that this diamond is round, the most popular diamond shape, is also extremely unusual- important coloured diamonds are normally cut to the shape most suitable to preserve weight and rounds generally have the largest wastage from rough to polished. Also, the diamond originates from the famous Cullinan Mine in South Africa which is also the location of the largest rough ever to be found."

View press release: The Premier Blue