Cullinan Dream Diamond – a Blue Diamond Beyond Imagination

May 29th, 2016 by Noam Flint

 

Christie’s has done it again for the 3rd time so far this year. It started with unveiling the Largest vivid Blue Diamond at auction in Geneva, the Oppenheimer blue. It then went on to offer the largest fancy Vivid Green – The Aurora Green, coming up on May 31 in a Hong Kong auction. And now, it offers the “Cullinan Dream” Diamond – largest Fancy Intense Blue Diamond ever sold at auction and its coming up in NY on June 9th.

Cullinan Dream DiamondCullinan Dream Diamond

Dream Come True from the Cullinan Mine

Blue diamonds come from Australia (Argyle), India & South Africa (and occasionally Borneo, Brazil, Central Africa). But since the transfer of the Cullinan Mine to Petra’s hands back in 2007 – its been making serious headlines.

The Cullinan Dream diamond along with other diamonds, have been polished from the 122.52 carat rough blue diamond unearthed by Petra Diamonds, at their Cullinan Mine, in south Africa, in late 2014.

it was sold for $27.6 million and retained a 15% ownership of any increase in value. 3 other magnificent Diamonds were polished; 11.3 carat, pear shape, a 10.3 carat, radiant, and a 7.0 cushion.

122.52 carat Blue Diamond Discovered by Petra Diamonds122.52 carat Blue Diamond Discovered by Petra Diamonds
Image: Petra Diamonds

Value Expectations that are Beyond Imagination

Christie’s has unveiled its valuation stating that the Cullinan Dream is worth between $23-$29 million or $951k to $1.2 million per carat. Considering that the diamond is graded as a 24.18-carat intense blue diamond with VS2 clarity there is not much to compare it to. Some would consider it low, others would consider it a record breaker after all.

The previous largest Fancy Intense Blue diamond at auction is a 13.39 carat Fancy Intense Blue diamond and a VS clarity grade. It was sold back on May 14, 2008 for a total of $8.785 million or $656k per carat.

It is quite clear that we will have 1 record at least and that is the largest Fancy Intense Blue diamond offered at auction. In terms of the selling price, well, that is really up to the market.

We have seen many natural blue diamonds sell at auction like the Blue Moon of Josephine and the Oppenheimer Blue Diamond, and we have also seen blue diamonds fail to sell at auction, like the recent Shirley Temple Blue Diamond.


Blue Moon Diamond

The Blue Moon Diamond
Image: Sotheby’s

“Dreamy” Provenance

What is well known about this diamond is the fact that it came from the famous Cullinan mine, similar to theory famous blue diamonds like the recent 10.10 carat Millennium Jewel 4, which sold in Hong Kong and The Oppenheimer Blue diamond. In fact, majority of recent blue discoveries came from this mine.

Conclusion

We are just a few days away from the offering of the Aurora Green Diamond in Hong Kong, and just a few short weeks before our Cullinan Dream Diamond that will be sold. All that is left is wait and see what the numbers will be…

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