3 Amazing Blue Diamonds coming to Geneva

May 9th, 2016 by Noam Flint

 

Natural blue diamonds have become legendary in the media because of the incredible prices that they have been earning lately under the hammer. It all began when the 9.75 carat Fancy Vivid Blue diamond ‘Zoe Diamond’ was sold in New York by Sotheby’s on November 20, 2014 for a then record $3.348 million per carat, a total of $32.645 million.

This completely shattered the previous records that had been set, but was not to remain the record for long. The previous record had been set by the Winston Blue, a 13.22 carat Fancy Vivid Blue diamond. It had sold for a “only” $1.8 million per carat on May 14, 2014 in Geneva.

The Zoe Diamond 9.75 carat vivid blue diamond - previously most expensive diamond everThe Zoe Diamond – 9.75 carat Vivid Blue Diamond
image: Sotheby’s

A year later, Sotheby’s broke records again with the ‘Blue Moon of Josephine’ diamond, a 12.03 carat Fancy Vivid Blue diamond. It sold for a new record of $48.468 million, or $4.03 million per carat, making it the most expensive diamond ever sold at auction and the highest price per carat ever paid for a diamond at auction.

Blue Moon Diamond
The 12.03 carat Fancy Vivid Blue ‘Blue Moon of Josephine’ Diamond
Image: Sotheby’s

In the months since, another blue diamond managed to make headlines as well. On April 5 in Hong Kong, Sotheby’s sold the 10.10 carat Fancy Vivid Blue ‘De Beers Millennium Jewel 4’ diamond. Although it made a lot of press, it did not break the records set by the Blue Moon of Josephine. However, it did become the most expensive jewel ever sold in Hong Kong.

De Beers Millennium Jewel 4 - 10.10 carat Vivid Blue DiamondThe 10.10 carat Fancy Vivid Blue ‘De Beers Millennium Jewel 4’ Diamond
Image: Sotheby’s

More Blue Diamonds Set to Make a Splash

In Geneva in May, two Fancy Vivid Blue diamonds and a Fancy Intense Blue diamond will go under the hammer. It remains to be seen if they can beat any of the prices set by their predecessors, but as we have seen in recent months – anything is possible!

7.32 carat Fancy Vivid Blue Diamond
7.32 carat Fancy Vivid Blue Diamond Internally Flawless

One Fancy Vivid Blue diamond will be sold by each auction house, Sotheby’s and Christie’s, and they will be sold a day apart. First will be a 7.32 carat Fancy Vivid Blue Internally Flawless pear shaped diamond sold by Sotheby’s on May 17.

They have estimated its final price to be between $15 million and $25 million, or $2.05 to $3.42 million per carat. There is a strong possibility that this is a large overestimation, so we will have to see what actually happens come May. If this diamond were to break the world record of $4.03 million per carat, it would need to sell for a total of $29.5 million, which is well over the diamond’s highest estimate of $25 million.

On the following night, Christie’s will be auctioning off the ‘Oppenheimer Blue’, a 14.62 carat Fancy Vivid Blue diamond. This diamond is making a much bigger stir than the pear shaped diamond of Sotheby’s because it is the largest Fancy Vivid Blue diamond ever to appear in auction.

The diamond is named after its original owner, Sir Philip Oppenheimer. The diamond is even larger than the Blue Moon of Josephine, which weighs 12.03 carats, and sold for $48.4 million. Christie’s has estimated the ‘Oppenheimer Blue’ diamond’s final price to be between $38 million and $45 million.

This valuation translates to $2.6 million to $3.08 million per carat. Considering that it is larger than the Blue Moon, it is very possible that this diamond will exceed its highest estimates and become the most expensive jewel ever sold at an auction, making all the major headlines in the process.

Oppenheimer Blue Diamond
The 14.62 carat Fancy Vivid Blue ‘Oppenheimer Blue’ Diamond
Image:Christie’s

The one Fancy Intense Blue diamond is a 6.64 carat Fancy Intense Blue marquise shaped diamond on a brooch by Alexandre Reza. It is being offered by Sotheby’s on May 17 as well. They have valued it at $10 million to $14 million, or $1.5 million to $2.11 million per carat.

Intense Blue Diamond brooch by Alexandre Reza
6.64 carat Fancy Intense Blue marquise shaped diamond brooch by Alexandre Reza

The record price per carat is held by a 1.74 carat VVS1 round brilliant diamond that sold for $1.106 million per carat this past November.

Its low estimate is $1.5 million per carat, making it almost certain that the 6.64 carat diamond will set the new world record price per carat for a Fancy Intense Blue diamond. Also, if the diamond sells for its low estimate of $10 million, it will become the most expensive Fancy Intense Blue diamond to ever be sold at auction. The current holder of that title is a 13.39 carat Fancy Intense Blue diamond that was sold back on May 14, 2008 for a total of $8.79 million, or $656k per carat.

Will the Oppenheimer Blue become the most expensive diamond to ever sell at auction? Can blue diamond prices continue to rise, or have they peaked with the sale of the Blue Moon of Josephine? Tell us your opinion in the comments!

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