122 carat blue diamond fetches $27Million at auction

The 122 carat blue diamond rough found in June has been sold by Petra Diamonds after being discovered in its Cullinan mine for $27.6 million, far below the record price some were expecting.

122 carat blue diamond fetches $27million

122 carat blue diamond fetches $27million

Although $27.6 million sund like a large sum it was actually far below the record price some were expecting. That price works out to a $225,269 a carat. it fell well short of the $35m-$50m analysts had expected.

Johan Dippenaar, Petra’s chief executive, said it was an “excellent sales value for the rough stone” and that retaining a stake in the gem would also give it “exposure to the uplift in value post beneficiation.”

Given the sky-high expectations, one local newspaper dubbed it “a bit of a bargain” for its buyer.

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