Christie’s Geneva sold 100 per cent of lots at its Magnificent Jewels yesterday (14 May) and raised $72.3m – despite the withdrawal of the sale’s main attraction, the 23.24-carat Golconda Blue.
It carried a $35m to $50m estimate and would have been the largest fancy vivid blue diamond ever offered at auction. But consignors pulled the gem with less than three weeks’ notice, saying it would be sold a family member instead.
The new top lot was another blue, an emerald-cut 6.24-carat fancy deep blue diamond (pictured) that was sold to London-based Moussaieff Jewellers for $12.7m. Christie’s said it set an auction record price per carat for a deep blue jewel.
A fancy, vivid blue oval-shaped diamond ring of 3.68 carats set by Graff, sold for $5.8m to Lawrence Graff.
And a private collection of 21 pieces by JAR (Joel Arthur Rosenthal) sold for $7.1m, with a diamond necklace selling for $2.8m, almost five times its pre-sale estimate.
Christie’s said the auction raised $72.3m, with 77 per cent of the 115 lots selling above their high estimate. By comparison, last year’s Magnificent Jewels auction raised $54.2m.
A remarkable 10-carat blue diamond, dubbed the “Mediterranean Blue Diamond,” is expected to achieve up to $20 million when it goes under the hammer at Sotheby’s in Geneva on 13 May. The diamond, which boasts the highly coveted “fancy vivid blue” colour grade, represents one of the most prized and rare categories in the world of coloured diamonds.
Discovered in 2023 at South Africa’s famed Cullinan mine, the Mediterranean Blue was originally a rough diamond weighing an impressive 31.94 carats. What followed was an extraordinary journey — a full year of study, including precise analysis to maximise both beauty and value, and six months of planning and expert cutting to reveal the gem in its final cushion-shaped form.
Sotheby’s, which is overseeing the auction, describes the diamond as a standout in its class. Jessica Wyndham, head of high jewellery at Sotheby’s Geneva, remarked, “The market for coloured diamonds continues to go from strength to strength.” Indeed, blue diamonds of this size and calibre are vanishingly rare, and collectors around the world are likely to compete fiercely for the chance to own such an exceptional gem.
Fancy vivid blue is the highest grading for coloured diamonds, denoting a saturation and purity of colour that few stones ever achieve. The Mediterranean Blue, with its intense oceanic hue and exceptional clarity, is a testament to nature’s rarity and human craftsmanship.
Over the years, similar diamonds have fetched extraordinary prices. In 2016, the “Oppenheimer Blue,” a 14.62-carat fancy vivid blue diamond, sold for a staggering $68.7 million at Christie’s in Geneva, setting a world record for any fancy vivid blue diamond sold at auction. That same year, another exceptional blue stone — a 24.18-carat intense blue diamond also mined from the Cullinan site — sold for $25 million, reinforcing the global appetite for ultra-rare coloured diamonds.
The Cullinan mine, known for producing some of the world’s most famous diamonds — including parts of the Cullinan I and II, which are part of the British Crown Jewels — has once again proven its status as a source of legendary stones.
With demand for coloured diamonds surging, particularly among high-net-worth collectors and investors seeking portable, tangible assets, the upcoming sale of the Mediterranean Blue Diamond is expected to draw worldwide attention.
Its appearance at auction not only marks a rare opportunity to acquire a gem of unmatched beauty and provenance, but also reflects the continuing strength and allure of the coloured diamond market — where rarity and story combine to create lasting value.
Christie’s is preparing to showcase something truly extraordinary — The Golconda Blue, a 23.24 carat Fancy Vivid Blue diamond, set to headline the Magnificent Jewels auction in Geneva on 14 May. Held at the Four Seasons Hotel des Bergues, this remarkable stone carries an estimate of between $35 million and $50 million.
Mounted in a ring designed by the legendary JAR, The Golconda Blue is not only the largest Fancy Vivid Blue diamond ever offered at auction — it’s also one of the rarest and most historically significant diamonds in existence.
Its journey through history is as dazzling as the stone itself. Originally owned by Yeshwant Rao Holkar, the Maharaja of Indore — a prominent patron of art and fine jewellery in the 1920s and 1930s — the diamond was first set into a bracelet by Chaumet in 1923. A decade later, Mauboussin transformed it into a necklace worn by the Maharani, immortalised in a striking portrait by Bernard Boutet de Monvel.
In 1947, the diamond was acquired by none other than Harry Winston, who later sold it as a brooch to the Maharaja of Baroda. After years of being held privately, The Golconda Blue is now returning to the public eye for the first time in decades.
Rahul Kadakia, Christie’s international head of jewellery, called it “a once-in-a-lifetime opportunity,” noting the auction house’s long history with legendary Golconda diamonds such as the Archduke Joseph, the Princie, and the Wittelsbach.
The term Golconda itself refers to the legendary diamond mines of Eastern India, famous for producing some of the world’s most luminous, transparent, and pure gems. Among them are historic stones like the Koh-i-Noor, the Hope Diamond, and the Darya-i-Nur — and now, The Golconda Blue joins this rarefied list.
This sale is not just about a diamond. It’s about history, heritage, and the timeless allure of one of nature’s most breathtaking creations.
A 5.72 carat fancy intense blue diamond beat its high estimate and sold for $8.8m yesterday (10 December) at Christie’s New York.
The cushion brilliant cut VVS1 stone, set in a platinum ring with round diamonds, was the highlight of the Magnificent Jewels auction.
The price realized was $1,539,336 per carat. The pre-sale estimate was $6m to $8m.
The second highest price was for a pair of Harry Winston spinel and diamond earrings. They sold for $2,228,000—four times their high estimate of $600,000.
The sale raised a total of $49.2m, with 97 per cent of the 179 lots finding buyers.
Rahul Kadakia, Christie’s international head of jewelry, said: “Today’s sale in New York was a testament to the vibrant market for jewelry of the highest caliber with singular provenance.
“We were particularly pleased with the result of the top lot – a fantastic fancy intense blue diamond ring that sold for $8.8m.”
The Fancy Color Research Foundation gave the blue diamond a visual score of 8 out of 12 in its pre-sale analysis, noting its low color dispersion.
It said: “True Face-Up: Equivalent to that of a 9.15 carat which is ~59.9 per cent larger than the average
“Analysis: A Fancy Intense Blue Cushion brilliant-cut diamond, polished as a classic colorless diamond, probably manufactured during the 1960s or 1970s.
“The diamond’s inner-grade is very strong, and modifying its facet alignment could increase its saturation to vivid. No significant gray undertone is present in the color.”
A “Toi et Moi” ring featuring blue and pink diamonds – both over 5.0-cts – sold for $3.7m (£3m) almost double its high estimate, at Bonhams London.
The ring was crafted and signed by Mouawad, the Geneva-based jeweler to royalty and high society, which was founded in 1890. It carried a pre-sale estimate of $1.3m to $1.9m (£1m to £1.5m).
The radiant-cut fancy intense blue diamond, weighing 5.03 carats, is obliquely-set with a radiant-cut fancy purple-pink diamond, weighing 5.13 carats. The gallery and shoulders are pave-set with brilliant-cut diamonds of pink and blue tint.
The 113-lot sale, on 13 June, made a total of £6,590,562, with 78 per cent sold by lot and 99 per cent sold by value.
Christie’s has auctioned one of the rarest blue diamonds in the world for a staggering $44 million.
On Tuesday, the stone called the “Bleu Royal” went under the hammer as one of the highlights of the auction house’s Luxury Week sale in Geneva, far outstripping the presale estimate. It is the first time the stone has been sold at auction, having been in private hands for the past half century.
Set into a ring, the 17.61 carat, pear shaped diamond is considered the largest internally flawless vivid blue diamond to have ever come to auction, and had a presale estimate of $35 million. At the sale, it eventually realised $43.8 million, making it the most expensive jewel sold at auction this year.
A 4.83 carat fancy vivid blue diamond ring sold for $8.8m at Christie’s Hong Kong as the Magnificent Jewels sale brought in a total of almost $60m.
The brilliant cut IF Type IIb gem (pictured) was surrounded by fancy-cut diamonds, in a gold setting. It sold between the low and high estimates of $7m to $10.2m.
The blue diamond led the sale, followed by two items which both sold for above their high estimates.
An octagonal step-cut 21.38 carat sapphire in a platinum ring set with tapered baguette cut diamonds sold for $4.5m (high estimate $2.3m).
And an 8.92 carats fancy vivid yellow orange pear modified brilliant cut diamond, in a platinum and gold ring, with pear brilliant-cut diamonds of 1.12 and 1.11 carat, sold for $4m (high estimate $3.8m).
A rare,11.16-carat fancy vivid blue diamond named the “Bulgari Laguna Blu” has fetched slightly more than $25 million at a Sotheby’s Magnificent Jewels sale in Geneva.
The auction house brought the clock back to pre-pandemic times by achieving the best performance since May 2018, with total proceeds of over 76 million Swiss francs (about $85m).
Sotheby’s noted the exceptional blue diamond was put up for auction last and after a four-minute bidding battle between three telephone bidders and one bidder in the room, it eventually found a buyer on the phone.
The sale made of the Bulgari Laguna Blu the most expensive jewel ever sold in Geneva. It is also the largest blue diamond in a Bulgari jewel and the brand’s most valuable gem to ever be put up for sale.
The Bulgari Laguna Blu is a rarity three times over, as it is a blue diamond, a jewel signed by Bulgari, and an unseen and unmodified gemstone.
Bulgari’s global Ambassador, actress Priyanka Chopra, wore the Bulgari Laguna Blu this year’s Met Gala in New York.
The Italian jewelry maker set the oceanic-blue sparkler in a bespoke diamond necklace for actress Priyanka Chopra Jonas, and the stone then was removed and remounted onto a ring—similar to the house’s original 1970s design.
The diamond was initially mounted as a ring by Bulgari for a special commission by the original owner. It was sold in 1970 and it’s now part of a necklace.
Sotheby’s will auction a stone described as “the largest vivid blue diamond ever to appear at auction” on April 27 in Hong Kong.
Sotheby’s estimates that it could bring $48 million.
Cullinan Blue Diamond
The 15.1 carat step-cut blue was cut from a rough stone discovered in April 2021. It is “the largest internally flawless step cut vivid blue diamond that the Gemological Institute of America (GIA) has ever graded,” according to a press statement.
“This diamond ranks as one of the best De Beers has ever seen,” said Bruce Cleaver, CEO of De Beers Group. “It is extremely rare and unique, and as the Home of Diamonds, De Beers is pleased to join together with Sotheby’s to bring this diamond to the world.”
Only five blue diamonds over 10 carats have ever come to auction, Sotheby’s notes. Until now, none has exceeded 15 carats.
“Blue diamonds of any kind are rare on the market, but this is the rarest of the rare; nothing of remotely similar calibre has appeared at auction in recent years,” says Patti Wong, chairwoman of Sotheby’s Asia. “Hundreds of millions of years in the making, this extraordinary blue diamond is surely one of nature’s finest creations.”
The diamond comes from the Cullinan mine in South Africa.
