Blue diamond fetches USD 9.5 million

14th May 2009, Comments 0 comments

Sotheby's sells a rare blue diamond for record price Tuesday night at a Geneva auction.

GENEVA - Auction house Sotheby's said it sold a rare 7.03 carat blue diamond for a record price of USD 9.5 million (CHF 10.5 million, EUR 7.0 million) on Tuesday night to an anonymous bidder.

"This total represents the highest price for a fancy vivid blue diamond sold at auction and the record price per carat for any gemstone sold at auction," said Sotheby's in a statement.

It added that the winning bidder for the auction in Geneva did not yet exercise the privilege of naming the stone.

The precious cut stone was expected to earn between USD 5.8 and 8.5 million. After more than 15 minutes of what was described as "heated bidding," the final bid reached beyond the estimate.

Discovered in the Cullinan diamond mine in South Africa, the diamond was graded as fancy vivid blue in colour and internally flawless in clarity -- the highest possible grading for a blue diamond.
AFP / Expatica

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