A Stunning Blue Diamond Shines Less in the Limelight
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Spectacular Rare Blue Diamond Auctioned Off for Approximately €20 Million - Impressive Rare Blue Diamond Sold for Almost 20 Million Euros Auction Bid
The "Mediterranean Blue" diamond, an exquisite gem discovered in South Africa's Cullinan mines, has found a new home - a quiet private collection in the USA. Despite the private nature of the buyer, the auction house hasn't kept it a secret that this coveted stone hit the auction block.
The "Mediterranean Blue" was nothing short of the "stone of the season," as described by Sotheby's, but the auction's allure faltered slightly. According to Tobias Kormind, Europe's top diamond expert at 77 Diamonds, the excitement failed to reach heights predicted. While the diamond did surpass its $20 million estimate, Kormind suggests that geopolitical uncertainties, particularly trade tensions between the USA and China, may have played a part in keeping bidders' spirits down.
- Geneva
- Sotheby's Holdings
- USA
- Auction
- Swiss Francs
A Closer Look at the Mediterranean Blue
This stunning 10-carat fancy vivid blue diamond is extraordinarily rare, being among the minuscule 0.5% of all diamonds graded as Type IIb. It dazzles with a VS2 clarity rating, boasts an incredible provenance from the legendary Cullinan mines, and has already graced the world with appearances in Abu Dhabi, the Middle East, Asia, and the USA[2][3]. However, despite its rarity and glamorous backdrop, the diamond's auction display seemed less visible than one might anticipate for such an iconic stone[1][2].
The bidding duel in Geneva lasted barely three minutes, undeniably hinting at competitive interest. Yet, the intense bidding war one might hope for remained elusive, and the diamond was acquired via a phone bid, rather than a showy in-room auction[1]. All in all, the "Mediterranean Blue" broke records, selling for $21.5 million and eclipsing every other precious jewel for 2021[1]. Despite the successful sale, the unfolding of events lent the occasion a more subdued vibe compared to the anticipation built around such a spectacular diamond.
I'm not sure if the cooled enthusiasm for the auction was due to the geopolitical uncertainties in the finance industry, particularly the trade tensions between the USA and China. I'm not sure if this discrepancy between predicted excitement and actual bid interest was reflected in the brief bidding duel in Geneva, which was surprisingly short and concluded with a phone bid rather than a live auction.
