The 14.62-carat rectangular-cut diamond, known as the Oppenheimer Blue, fetched a record-breaking US$57.5 million (AU$79.5 m) at the Christie’s Magnificent Jewels sale in Geneva, Switzerland on 18 May.
Said to be the largest of its kind to go under the hammer, the item exceeded the highest pre-sale estimate of US$45 million (AU$62.2 m).
The previous record was set in November 2015 by a diamond of the same hue, the Blue Moon of Josephine, which sold for US$48.5 million (AU$67.1 million) at a Sotheby’s auction, also in Geneva.
According to Christie’s, the sale of the Oppenheimer Blue created a 25-minute bidding war between collectors from three continents.
A “private collector” whose identity has not been released eventually purchased the diamond.
It is believed the stone was named in honour of the previous owner, the late Sir Philip Oppenheimer, a member of the South African family that held a significant stake in De Beers Group until 2011.
One day before the Oppenheimer Blue sale, a diamond referred to as the Unique Pink continued a trend for coloured stones performing well at auction. The 15.3-carat diamond sold for US$31.6 million (AU$43.7 m) at a Sotheby’s sale – the highest price paid for a fancy vivid pink diamond at auction.
The previous record was held by Sweet Josephine, a 16.08-carat diamond that fetched US$28.5 million (AU$39.4 m). The Graff Pink is believed to maintain the record for the highest pink diamond sold at auction when it sold for US$46.2 million (AU$64.3 m) at a Sotheby’s sale in November 2010.
More reading
Record-breaking blue diamonds headline auctions
World’s largest blue diamond to be auctioned
Record jewellery auctions prelude to ‘year of colour’