Asia auction record highlights robust demand for rare BLUE DIAMONDS

Blue diamonds of any intensity of colour are amongst the rarest of all gems. Highly saturated blue diamonds over ten carats combined with an Internally Flawless clarity grade are extremely rare. There have been fewer and fewer new rough diamonds discovered over the last decade that produce this colour. Most of the recent diamonds offered for sale in this category are coming from private collections—not diamond mines.”  Tom Moses, Executive Vice President and Chief Research and Laboratory Officer, GIA

A record price achieved on April 5 for any jewel sold at auction in Asia, highlights the strength of demand for blue diamonds.

Sotheby’s sold the 10.1 carat fancy vivid blue diamond, the De Beers Millennium Jewel 4, for US$31.8 million in Hong Kong.

“Diamonds” author Marijan Dundek said, “Since the sale of the Wittelsbach blue diamond, and then last November the Blue Moon for US$48.4 million, demand for the rarest of gems has exploded.”

Auction sales of blue diamonds this year will include the Oppenheimer Blue, the largest and finest Fancy Vivid Blue diamond ever offered at auction.

Blue diamonds are the rarest in the world after the reds,” Dundek said.

This year will be remembered as a year of a blue.”

The April sale was a positive signal for the industry”, said Ehud Laniado, chairman of Cora International, which sold the Blue Moon.

“When the Blue Moon broke all records when it sold, it set the tone for a new level of pricing for all rare and high quality blue diamonds,” Laniado said.