At Sotheby’s prestigious High Jewelry auction in Geneva, a rare 10-carat fancy vivid blue diamond named “The Mediterranean Blue” fetched an impressive $21.5 million, surpassing its pre-sale estimate of around $20 million.
This remarkable sale marks the most valuable diamond or jewel auctioned so far this year.
The stunning diamond sparked an intense bidding war between two contenders, opening at approximately $10.7 million before finally selling to an American private collector represented by Sotheby’s vice chairman of jewelry, Frank Everett.
“The Mediterranean Blue” is a Type IIb diamond, a rare classification found in less than 0.5% of all diamonds, and it boasts the highest color grade for blue diamonds, “fancy vivid blue,” by the Gemological Institute of America.
This exquisite cushion-modified brilliant cut highlights the stone’s exceptional color saturation and elegant softness.
Unearthed from the famed Cullinan mines in South Africa in 2023, the same source as the legendary “Great Star of Africa,” the diamond was meticulously cut over six months to balance size, clarity, and vibrant color.
Before its auction debut in Geneva, it toured globally, including stops in Abu Dhabi, Asia, and the United States.
Notably, renowned jewelry designer Lauren Harwell Godfrey crafted a Met Gala-inspired brooch featuring the diamond, though it was ultimately presented and sold set in a ring.
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