Wednesday, September 4, 2013

Sotheby’s to Auction Rare Blue Diamond

Sotheby's auction house announced Monday that the stone, “The Premier Blue,” will be sold on Oct. 7 as part of Sotheby’s regular twice-yearly auction series.

The stone weighs 7.59 carats. Its size, vivid blue color and round cut — highly unusual for colored diamonds — make it exceptionally rare, and Sotheby’s expects the stone to bring about $19 million, Quek Chin Yeow, deputy chairman of Sotheby’s in Asia, said in an interview before Monday’s announcement. That, he said, would be a record per-carat price for any diamond.
Blue diamonds seldom hit the market and have been coveted by royals and celebrities for centuries, while a round cut is rarely used in coloured stones because of the high wastage.

The term "fancy" is used to describe a diamond of intense colour, while a gem's saturation grading ranges from light to vivid for coloured diamonds. In April, a rare 5.3-carat fancy deep-blue diamond was sold for £6.2 million ($9.5 million) at a London auction, then setting a record for price-per-carat at $1.8 million.




http://www.nytimes.com/2013/08/19/business/global/sothebys-to-auction-rare-diamond-in-hong-kong.html?_r=0