In the News:
The 24.18 ct. Cullinan Dream, an intense blue colored diamond sold for $25.4 million at Christie’s June 9 auction in New York.
The diamond was cut from a 122.50 ct rough diamond that was discovered by Petra Diamonds in 2014. It was named after the mine where it was discovered, The Cullinan Mine in Southern Africa.
The mine is best known for the discovery of the world’s largest rough diamond ever found at 3,106 carats. The finished diamonds cut from that rough are now part of the British Crown Jewels.
The Cullinan Dream is a cut-cornered rectangular mixed cut diamond and is of the Type IIb variety as classified by The Gemological Institute of America.
“Type IIb gems contain a small amount of the element boron that was trapped in the crystal carbon structure during their formation that can give rise to a blue or grey coloration,” Petra Diamonds said in a statement.
“For $25.4m, the buyer of the 24.18 carat Fancy Intense blue Cullinan Dream diamond might just have bagged a bargain,” said 77Diamonds.com managing director Tobias Kormind.
“Blue diamonds are rarer than pink diamonds, but when a comparable diamond, a 24-carat Intense pink diamond, the Graff Pink, sold in November 2010, it fetched a handsome $46.2 million.
The price is also much lower than the $3.9 million per carat achieved by the Oppenheimer Blue in May 2016, which at $57.5 million became the most expensive diamond ever to be sold at auction.
It seems that investor appetite for large and rare coloured diamonds remains buoyant.”
Sources: IDEX Online, JCK Magazine, Mining.com
Photos: Petra Diamonds
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