Rare blue diamond sold for $9.6 million at Bonhams auction sale (Photo)

By on Apr 26, 2013 in Europe, Lifestyle Comments

A rare blue diamond, as shown in the photo below, was sold for £6,201,250 (around $9.6 million) at Bonhams Fine Jewellery auction sale in London this Thursday, April 25, 2013. This never-been-auctioned precious gem was earlier estimated to fetch for up to £1 million, or six times lower than the selling price.

rare blue diamond Bonhams

Rare blue diamond, which was sold for $9.6 million
Credit: Bonhams.com

According to the announcement at Bonhams.com, the fancy deep-blue diamond weighs 5.30 carats, fetched £1.18million ($1.8million) per carat, surpassing the previous auction sale record for a blue diamond, which was $1.68 million per carat (approximately £1.05 million).

As noted the press release, this extremely rare blue diamond was set in a Trombino ring by Italian jeweler Bulgari back in the mid 1965, and was bought by famous diamond house Graff Diamonds. The blue color in the diamond is caused by trace elements of boron, which causes blue diamonds to become semi-conductors of electricity.

“Blue diamonds are extraordinarily rare. Over the past ten years fewer than thirty blue diamonds over five carats have appeared at auction worldwide.” A statement reads at Bonhams.com, with the term ‘fancy’ being used to describe a diamond of intense color. The color ‘fancy deep-blue’ is considered one of the rarest.

“If you compare this with the tens of thousands of colorless or “white” diamonds that have been sold in the same period, one can appreciate the excitement the appearance of a previously unrecorded blue diamond generates when it appears on the auction market.” The statement added.

Nevertheless, the most popular blue diamond in the world is the 45.52 carat Hope Diamond, which now resides at the Smithsonian Natural History Museum in Washington, D.C. King Louis XIV bought it from a French merchant in India. It was stolen during the French Revolution and later smuggled to London.

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