A large blue diamond has sold at a Geneva, Switzerland auction for over $8 million dollars. The jewelry auction brought high prices for colored and white diamonds. The large blue diamond weighed in at 13.39 carats. The stone is a rectangular diamond in a ring setting. Small pink diamonds encircles the blue diamond. Blue diamonds are among the rarest colored diamonds on earth.The diamond and jewelry sale is part of the twice-yearly sale in Geneva. The large blue diamond was one of the most stunning pieces however there were 365 jewelry lots for sale at auction. Of the 365 offerings 265 were successfully won by bidders for a total of more than $56 million setting a new auction record.
The large blue diamond carries a grade of “fancy intense” and is the largest diamond of this grade to be placed for auction. The market for colored diamonds continues to gain in popularity making it one of the most sought after stones in the world. A blue diamond of this size and grade is rarely ever seen at auction and so it commanded a large price. The buyer wishes to remain anonymous.
Colored diamonds are truly the trend. More and more people are interested in buying colored diamonds. This continues to drive up prices for these rare gems. Colored diamonds are formed in the earth the same way as typical white or colorless diamonds are. What gives colored diamonds their color is the addition of another chemical that is present at the time the diamond is forming.
The presence of nitrogen typically causes a diamond to turn yellow or orange. When boron is present the diamonds turn blue – one of the rarest colors. Sometimes excess pressure causes the carbon in diamonds to form a color. Diamonds formed this way are often red, purple or pink in color. Radiation inside the depths of the earth can also cause diamonds to be colored. Radiation typically causes green or blue hues.
The intensity of the diamond colors can vary dramatically. This is because the colors are formed so uniquely – each diamond has a different exposure to the substances that produce the colors. Diamonds are formed by carbon that has been compressed deep within the earth over thousands or even millions of years. This compact product is the strongest material known to man. Colored diamonds are quite rare. In fact colored diamonds occur only about once for each 10,000 white diamonds. Because of their rarity they are in large demand and people are willing to pay large sums to acquire one.
The quality of colored diamonds can vary as much as the quality of white diamonds. It is important to make sure that the colored diamonds have been graded and have a gemologist report. Colored diamonds are cut into the same shapes as standard white diamonds and the facets are cut into them the same way as well. Usually diamonds start out quite large and are cut down into smaller more perfect gems. The gemologist will look at the diamond and cut a diamond that uses the perfect areas to create a diamond that is flawless.
Many other diamonds were sold at the same auction. A yellow diamond pendant shaped like a heart was sold for over $3 million dollars. It weighed 21.4 carats and was considered flawless. In addition many white diamonds were also sold at the auction bringing in strong prices from buyers.
Diamonds are an internationally traded commodity that holds their value around the world. Wherever auctions have been held in the past six months the prices have continued to be quite strong – in some cases setting records. Since diamonds have continually increased in value they remain a good investment that can also be worn as a fashion statement. It is likely that prices for diamonds will continue to remain strong in the future.
Because of their status symbol and trendy look colored diamonds continue to set record prices. They are a rare find. When cut properly they are extremely valuable. The larger sized colored diamonds are of course the most rare. They can bring upwards of 100 times more than a similarly sized white diamond. Auction houses continue to see large prices for colored diamonds. Colored stones are graded similarly to white stones with the exception of color. The gemologist will review the stone for hue, which is the main color of the stone. The tone of the stone is the amount of light that is in the stone. Saturation is the color depth or how intense the color is. These items should be stated on the certificate. The color of the diamond will not change over time, however the color is an identifying mark that helps to authenticate the diamond. Larger sized colored diamonds may be cut into smaller diamonds as well.
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