World’s largest blue diamond to be auctioned

3.1 k views | Posted April 29, 2014 | By Stephanie Chan • Staff Journalist

The world’s largest flawless vivid blue diamond is expected to fetch up to $26.9 million at auction next month.

According to Christie’s, the sale price of the 13.22-carat diamond, called The Blue, is estimated to reach between US$21 million and US$25 million (AU$22.6 m to AU$26.9 m). The stone will lead the auction house’s Magnificent Jewels sale in Geneva on 14 May.

The auction will also feature The Ocean Dream – a 5.5-carat diamond believed to be the largest fancy vivid blue-green diamond to be auctioned. It is estimated to achieve a sale price of between US$7.5 million and US$9.5 million (AU$8.1 m and AU$10.2 m).

The combination of The Ocean Dream’s size, natural origin, hue and saturated colour is said to make it “an extremely unusual occurrence”.

Coloured diamonds appear to perform well for Christie’s; only six months ago a world record price per carat for any diamond sold at auction was set with the sale of The Orange. The stone sold for US$35.5 million (AU$38.3 m) and was the largest fancy vivid orange diamond to appear at auction.

Another auction house seemingly taking advantage of the demand for large coloured diamonds is Sotheby’s. Its Magnificent Jewels and Noble Jewels auction, which is also scheduled to take place in Geneva in May, will feature the 100.09-carat Graff Vivid Yellow diamond – a ring that reportedly comprises the largest yellow diamond in the world. It is estimated to sell for between US$15.1 million to US$25.2 million (AU$16.4 m to AU$27.2 m).