Cullinan Dream Sells for $25.4 Million

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.

It is flanked on either side by a tapered baguette-cut diamond and set in a platinum ring, inscribed "Cullinan Dream".

It is flanked on either side by a tapered baguette-cut diamond and set in a platinum ring, inscribed “Cullinan Dream”.

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 in the rough.

The Cullinan Dream in the rough.

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.

The Cullinan Dream is now a cut-cornered rectangular mixed-cut fancy intense blue diamond, weighing approximately 24.18 carats.

The Cullinan Dream is now a cut-cornered rectangular mixed-cut fancy intense blue diamond, weighing approximately 24.18 carats.

 

“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 Oppenheimer Blue which sold for 57.5 million in May 2016

The Oppenheimer Blue which sold for 57.5 million in May 2016

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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