The Premier Blue Diamond to Fetch $19M at Auction

Celebrating its 40th anniversary in Asia, Sotheby’s will be auctioning the largest round fancy vivid blue diamond ever to be graded by the Gemological Institute of America. The diamond will be the star at the Magnificent Jewels and Jadeite Autumn Sale in Hong Kong on Oct 7.

The Premier Blue, a 7.59 carat round brilliant internally flawless marvel is expected to fetch an estimated $19 million. If the stone reaches this amount it will shatter the world record for a blue diamond at auction and per-carat price for any diamond. The 24.78 carat Graff Pink diamond however, would still hold the world record for any diamond sold at auction.

Excavated from the Premier Mine, (formerly known as Cullinan), its natural vivid blue hue and round cut are what make The Premier Blue so exceptional. Colored stones make up about 0.01% of all mined diamonds. Due to the high volume of waste of diamond rough when creating round brilliant cuts, they are rarely used in fancy color diamonds.

Other top lots include:

8.03 carat cushion shaped natural Pigeon’s Blood Burmese ruby set into a diamond ring setting specially designed for the upcoming Sotheby’s auction. Excavated from the Mogok Valley in Burma, the stone is free from inclusions to the naked eye. (EST. $3.5 – $4.2 million)

Set of two jadeite bead necklaces, circa Republican Period featuring 254 jadeite beads of matching color, translucency and texture. (EST. $2.8 – 3.8 million).

Jadeite Cabochon and Diamond Necklace (EST. $2.3 million – $3 million)

10.94 carat pear shaped fancy light pink diamond mounted into a diamond ring (EST. $1.9 million – $2.3 million)

Lavender jadeite bangle (EST. $850,000 – $1 million).