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Deep-Blue Diamond Sets World Record at Rs 59 Cr

  By AGENCIES   Nov 15th 2012 at 12:00PM Lifestyle RATED

 

Mystical Deep-Blue Diamond Sets World Record at Rs 59 Cr
Image via Sotheby's

 

 

A flawless deep-blue diamond sold at auction on Wednesday for 10.27 million Swiss francs (approx Rs 59.5 crore), a world record for a blue diamond per carat and more than twice its pre-sale estimate, Sotheby's said.

 

London luxury jeweller Laurence Graff, bidding by telephone, bought the drop-shaped stone which weighs 10.48 carats and is about the size of an almond, it said.

 

Signed pieces by top designers including Bulgari, Harry Winston, Van Cleef & Arpels fetched strong prices, easily exceeding their estimates, at the semi-annual sales in Geneva.

 

Applause erupted after David Bennett, head of Sotheby's international jewellery department, brought down the hammer after heated and lengthy bidding on the blue diamond which had been estimated to fetch 3.2 million to 4.2 million francs (approx Rs 185 crore to 24 crore).

 

"It is certainly a world record price per carat for a deep blue diamond," Bennett said after the sale. "It is an extraordinary stone, a very, very mystical deep blue. They only come from one mine, the Cullinan mine in South Africa," he said. The mine is owned by Petra Diamonds.

 

Mark Emanuel, of American jeweller David Webb, said "It is an extremely rare 10-carat deep blue briolette that can be recut to a 7-carat vivid blue. Most of these diamonds are bought on the basis of speculating and recutting. That's why we come. As a diamond dealer we look at the potential of a stone."

 

Source: Reuters 

 

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