Mediterranean Blue Beats Estimate, Sells for $21.5m
May 14, 25
(IDEX Online) - The 10.3-carat Mediterranean Blue, one of the world's largest blue diamonds, sold yesterday (13 May) at Sotheby's Geneva for $21.5m, beating its $20m pre-auction estimate.
The fancy vivid VS2 cushion modified brilliant gem was bought by an unnamed private collector from the US after a three-minute bidding battle. She was represented over the phone by Frank Everett, Sotheby's vice chairman of jewelry, Americas.
The Mediterranean Blue was cut from a Type IIb 31.94 carat rough that was recovered at the iconic Cullinan mine, in South Africa, in 2023 and was described by the auction house as "supremely rare and exceptional".
Sotheby's auctioneer Quig Bruning, who is also head of jewelry, Americas & EMEA, said: "It has been an extraordinary honour to have been entrusted with the early destiny of the only fancy vivid blue diamond of this size and calibre to be offered on the market in some time."
The Mediterranean Blue was the highlight of Sotheby's High Jewelry auction in Geneva, which raised a total of $50.4m. Sotheby's reported a a 99 per cent sell through by value and 97 per cent by number of lots sold.
Last month another outstanding blue diamond, the 23.24-carat Golconda Blue with a high estimate of $50m, was pulled from Christie's sale in Geneva after the owners decided to sell the stone to a family member instead.
Pic courtesy Sotheby's.