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Manila Bulletin devider Lifestyle devider This blue diamond could sell for $48 million—that's around P2.46 billion

This blue diamond could sell for $48 million—that's around P2.46 billion

Published Feb 17, 2022 03:13 pm

A fancy vivid blue diamond is set to make auction history.

Dubbed as the De Beers Cullinan Blue, this blue diamond is unearthed from the Cullinan Mine in South Africa in 2021. Currently, it is the “largest and most valuable blue diamond to ever come to auction,” according to a report by Reuters, and will be auctioned at Sotheby’s in Hong Kong this April.

The De Beers Cullinan Blue (Photo from @sothebys on Instagram)

Apart from its color, what makes it even more remarkable is its size, 15.10-carat that is, beating the Oppenheimer Blue, a 14.62-carat blue diamond that was sold at Christie’s for a whopping $57.5 million in 2016.

“The De Beers Cullinan Blue stands as a proud masterpiece that has been gifted from nature with the hues of the sky and sea. Among the rarest of stones in what is arguably the most desirable of colors, it must surely rank among the greatest wonders of the natural world. It is literally irresistible.” Wenhao Yu, Sotheby's chairman of jewelry and watches in Asia said.

Frank Everett, Sotheby’s senior vice president and sales director for jewelry, added that the blue diamond is “expected to sell in excess of $48 million,” around P2.46 billion.

Certifying its quality is the Gemological Institute of America (GIA) as it grades the diamond a Fancy Vivid Blue, “the highest possible grade for colored diamonds, which has been awarded to no more than 1 percent of blue diamonds,” as per Town and Country magazine.

“I think we’re going to see tremendous interest in this stone when it finally comes to auction,” Everett told Reuters. “The market is very strong for jewelry at the moment, has been really for the last several years, but one of the strongest segments is colored diamonds. And one of the strongest colors is blue.”

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