Two Exceptional Blue Diamonds Headline Christie’s New York Auction

Luxury auction house Christie’s will present two extraordinary blue diamonds at its Magnificent Jewels sale in New York on 9 June, each carrying an estimate of USD $6.5 million to $8.5 million.

Leading the sale is the 31.62 carat pear shaped “Azure Blue”, the largest fancy blue diamond ever offered at auction. The diamond has been graded by Gemological Institute of America as potentially Internally Flawless, placing it among the rarest blue diamonds to appear on the market in recent years.

Also featured is a 5.04 carat fancy vivid blue marquise modified brilliant cut diamond. The Type IIb stone carries a VVS2 clarity grade and is also considered potentially Internally Flawless. It is mounted in a platinum ring with tapered baguette diamonds.

Among the additional highlights is a 15.49 carat sapphire ring, expected to realise between USD $1.2 million and $1.8 million.

Signet Retains Top Position in North American Jewellery Sales

Signet Jewelers has once again been named the highest grossing jewellery retailer in North America in National Jeweler magazine’s annual State of the Majors report.

The company recorded jewellery and watch sales of approximately USD $6.36 billion across 2,329 locations during 2025, maintaining a substantial lead over competitors.

Swiss luxury group Richemont moved into second position, overtaking Walmart. Richemont generated approximately USD $3.62 billion in jewellery and watch sales from just 105 retail locations.

Other notable movements in the rankings included Costco rising to fifth place, Pandora advancing to seventh, and Watches of Switzerland entering the top ten.

The report noted a slight increase in the number of “superseller” jewellery and watch retailers generating more than USD $100 million annually, rising from 36 companies in 2024 to 37 in 2025.

Russia Plans Diamond Export Duties to Support Domestic Cutting Sector

Russia’s Finance Ministry has confirmed plans to introduce export duties on selected diamond exports later this year in an effort to support the country’s struggling domestic cutting and polishing industry.

Deputy Finance Minister Alexei Moiseev stated that the proposed tariff system is currently being discussed with Alrosa, the world’s largest diamond producer by volume.

According to Moiseev, the export duties would apply only to rough diamonds considered economically viable for local manufacturing, with the intention of preserving Russia’s remaining cutting expertise.

The Russian diamond sector continues to face significant pressure following US sanctions imposed on Alrosa in 2022 and the January 2024 G7 restrictions on Russian diamond imports.

Despite the ongoing challenges, Russian officials have indicated they are beginning to see signs of stabilisation within the global diamond market. Alrosa reduced production by 10 per cent in 2025 to 29.8 million carats and forecasts a further decline to between 25 and 26 million carats in 2026.