A rare 6.03 carat fancy vivid blue internally flawless diamond failed to secure a buyer at the recent Sotheby’s Geneva High Jewelry Sale, despite carrying a pre sale estimate between USD $9 million and $12 million. The exceptional blue diamond was the headline lot of the May 12 auction held at the Mandarin Oriental in Geneva.

Although the blue diamond remained unsold, the auction itself was considered a strong success, achieving more than USD $30 million in total sales with 93% of lots sold. Sotheby’s reported its highest participation levels in a Geneva jewellery sale in more than five years, with an average of more than five bidders competing for each sold lot.

Collectors from over 30 countries participated in the auction, with strong interest from buyers across the United States, Asia, Europe and the United Kingdom. Fancy coloured diamonds, important gemstones and signed vintage jewellery continued to dominate buyer demand.

According to Jessica Wyndham, Head of High Jewelry at Sotheby’s Geneva, collector appetite for coloured gemstones remains exceptionally strong, while white diamonds are also experiencing renewed demand. Signed jewellery from iconic maisons, particularly bold 1970s and 1980s designs from Bulgari, significantly exceeded expectations during the sale.

The top performing lot of the auction was a perfectly matched pair of unmounted diamonds, each weighing 18.38 carats. Both diamonds were graded Type IIa and D colour, with one graded flawless and the other internally flawless. The pair sold for more than USD $3.2 million. The diamonds were sourced by De Beers from Botswana’s renowned Jwaneng Mine as part of a collaboration with Sotheby’s showcasing exceptional provenance diamonds.

Another standout lot was the “Peacock of Ceylon,” a remarkable 102.4 carat unheated cushion cut sapphire, which achieved nearly USD $2 million at auction.

A further highlight included a 4.12 carat pear shaped fancy pink internally flawless diamond ring, which sold for USD $1.4 million. The Type IIa diamond, graded by the Gemological Institute of America, featured excellent polish and was mounted between tapered baguette diamond shoulders.

The failure of the vivid blue diamond to sell highlights the increasingly selective nature of today’s high end gemstone market, where rarity alone is no longer enough to guarantee a record result.