Largest and most valuable blue diamond set to be auctioned in Hong Kong

The more than 15-carat De Beers Cullinan Blue diamond will be offered in a single-lot auction at Sotheby's Hong Kong in April.

The diamond is the "largest internally flawless step cut vivid blue diamond" ever graded by the Gemological Institute of America.
AFP

The diamond is the "largest internally flawless step cut vivid blue diamond" ever graded by the Gemological Institute of America.

Sotheby's has announced that it will offer the largest-ever blue diamond to go up for auction at a sale in Hong Kong in April.

The auction house on Wednesday said it expected the 15.10-carat De Beers Cullinan Blue diamond to sell for more than $48 million.

Sotheby's Senior Vice President and Sales Director for Jewelry Frank Everett said the jewel is remarkable on many levels.

"It's rare because of the size. It's over 15 carats. It's a vivid blue." he said.

"The market is very strong for jewelry at the moment, has been really for the last several years, but one of the strongest segments is colored diamonds. And one of the strongest colors is blue."

The diamond is the "largest internally flawless step cut vivid blue diamond" ever graded by the Gemological Institute of America (GIA), Sotheby's said in a statement.

The sale will mark the first time a blue diamond of more than 15 carats has ever gone under the hammer, the press release added.

Sotheby's said the diamond, which previewed in New York this week, would be offered on a yet-to-be determined date during its Hong Kong Luxury Week in April.

It was cut from a rough stone discovered at the Cullinan mine in South Africa in April 2021.

The diamond is bigger than the Oppenheimer Blue, a 14.62 carat stone that set the world record price for a blue diamond at auction in May 2016 when it sold for $57.5 million.

Earlier this month, Sotheby's in London sold the Enigma, the largest cut diamond ever to come to auction at 555.55 carats, for $4.3 million (£3.16 million).

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