Cullinan 'best source' of blue diamonds from the deep

The historic Cullinan diamond mine remains the world’s most consistently reliable source of blue diamonds, Petra Diamonds said on Wednesday in a statement.

This followed the sale—at a record price—of a blue diamond found at the mine.

The stone sold for R79-million, or R11,3-million a carat, establishing a new record price per carat for any gemstone sold at auction and the highest price for a fancy vivid blue diamond sold at auction, Petra Diamonds said.

The fancy vivid blue, internally flawless, cushion-shaped diamond weighing 7,03 carats sold on Tuesday evening as the centrepiece of Sotheby’s Magnificent Jewels auction in Geneva, Switzerland.

“This sale price has surpassed the world record price per carat achieved for any gemstone at auction, which was formerly held by a 3,73 carat, fancy vivid blue pear-shaped diamond which sold for R11,1-million per carat at a Sotheby’s auction in May 2008,” Petra Diamonds said.

It said the stone also surpassed the world record for a fancy vivid blue diamond sold at auction, which was formerly held by a 6,04 carat, fancy vivid blue diamond ring which sold for R66-million at a Sotheby’s auction in October 2007.

“The price achieved at the Sotheby’s auction for this exquisite, internally flawless blue diamond is a world record by value per carat and the highest price to be achieved by a fancy vivid blue diamond, and reflects how incredibly rare and collectable such an important blue diamond is to the connoisseur,” said Petra Diamonds chief executive officer Johan Dippenaar.—Sapa