Blue Diamond Auctioned for Record $9.49 Million

The fancy vivid blue, internally flawless, 7.03 carat diamond was auctioned at Sotheby’s was sold Tuesday for $9,488,754, or $1,349,752 per carat - a record per carat price for an auctioned diamond. The exceptionally rare cushion-shaped diamond was cut from a 26.58 carat rough discovered in 2008 at Petra’s Cullinan mine in South Africa.

The diamond was the centerpiece item at Sotheby’s Magnificent Jewels auction in Geneva Tuesday evening.

According to Petra’s CEO Johan Dippenaar, the price reflects how incredibly rare and collectable such a diamond is to the connoisseur. “The renowned Cullinan mine continues to captivate the world with spectacular diamonds, building on its legacy as the source of some of the world’s most famous gems.”