HomeDiamonds & GemstonesPetra Diamonds' Cullinan Dream sells for $25.37 million

Petra Diamonds’ Cullinan Dream sells for $25.37 million

The Cullinan Dream, a cut-cornered rectangular mixed-cut diamond, was auctioned on 9 June by Christie’s in New York.

In June 2014, LSE-listed diamond miner Petra Diamonds announced the discovery of a 122.52 ct blue diamond from its Cullinan mine in South Africa. The diamond miner sold the 122.52 rough blue diamond into a cutting and polishing partnership in September 2014 for $23.5 million where it was cut into four notably sized diamonds, of which the Cullinan Dream is the largest.

The 122.54 ct blue diamond from which the Cullinan Dream was cut
The 122.54 ct blue diamond from which the Cullinan Dream was cut

The other three diamonds included a cushion-cut diamond of approximately 7 ct, a radiant-cut diamond of approximately 10.30 ct and a pear-shaped diamond of approximately 11.30 ct, and the Cullinan Dream –of approximately 24.18 ct.

Cullinan is one of the world’s most celebrated mines for producing rare and famous diamonds – including the world’s largest rough gem diamond ever found, the 3 106 ct Cullinan diamond – which was cut into two highly significant diamonds which can be found in the Crown Jewels of Her Majesty the Queen of England.

The First Star of Africa, which is mounted at the top of the Sovereign’s Sceptre and which at 530 ct is the largest flawless cut diamond in the world, and the Second Star of Africa, a 317 ct polished diamond which forms the centrepiece of the Imperial State Crown.

Petra Diamond’s Cullinan mine has also yielded other rare diamonds including the Blue Moon of Josephine, a 12.03 ct polished stone that was auctioned at Sotheby’s in November 2015 for $48.5 million. It is the world’s second most expensive cut diamond ever sold at auction and the Star of Josephine – a 7.03 ct polished stone that was sold for $9.49 million, representing what at the time was a world record price per carat of $1.35 million.

Chantelle Kotze
Chantelle Kotze is a Johannesburg-based media professional. She is a contributor at Mining Review Africa (Clarion Events - Africa) and has created content for the media brand over the past 6 years.