Diamonds are a rare commodity that can fetch large sums of money both in the general marketplace and at auctions that are held throughout the world. There have been many amazingly rare diamonds that have been sold for millions of dollars. Theses rare and precious stones represent rarity and beauty in its purest form and can end up in the spotlight quite frequently. Although it is easy to buy diamonds both online and in stores, the diamonds we see in the news are noticeably rarer than your average gemstone.
On May 12th, a very rare beautiful blue diamond sold at a Sotheby’s auction in Geneva. The price paid: $9.49 million dollars. This is very significant due to the fact that it is the highest price per carat paid for any gemstone at an auction. The diamond itself is 7.03 carats and is flawless, mounted in a platinum ring setting. This gorgeous blue diamond was discovered at the Cullinan mine in South Africa, the most prominent source for blue diamonds in the world and the site where the famous 3106 carat Cullinan diamond was found.
One important factor in this sale is that it shows that gemstone investment has not been affected by the current economic downturn and that investors still believe that gemstones are a safe investment vehicle. It also bodes well for the gemstone industry in general as many other diamonds were sold during this same auction and the overall media coverage that will occur will shed more light on the gemstone industry in general. It is also important to note that while many larger diamonds have been sold at auction, the per carat price paid of almost $1.35 million dollars is astounding and sets a new precedent for gemstone prices throughout the world.
Although not the rarest color of diamonds, blue diamonds of this quality are rarely seen at auction. Some of the rarest blue diamonds include the Hope diamond, the Heart of Eternity diamond, and the Blue Heart diamond. This most recent diamond, which is yet to be named, will be classified with the latter diamonds due to its overall significance and the price paid. Although red diamonds are the rarest, they are usually much smaller overall and are not often of this quality.
The bidding for the diamond was hectic and included two anonymous bidderswho exchanged bids for roughly 15 minutes before a winner emerged. This anonymous winner will also have the right to name the diamond and secure his or her place in history. Being the centerpiece for this semi-annual auction, the blue diamond marks a significant purchase for any gemstone collector. Overall, the auction was a great success; some $35 million dollars of gemstones were sold signifying the flight the safety that we see in these economic times. It is a great indication that investors are looking to other avenues to invest and see gemstones and rare items as a safe, interesting way to do so with little risk and great overall possible returns.