HomeDiamonds & GemstonesCullinan diamond sets world record

Cullinan diamond sets world record

The Blue Heart diamond
– a striking example of
a blue diamond
London, England — MININGREVIEW.COM – 14 May 2009 – A blue diamond discovered in South Africa last year at the historic Cullinan mine of Petra Diamonds Limited – now one of the world’s largest independent diamond groups in terms of resources – has established a new world record price per carat for any gemstone sold at auction, and the highest price for a fancy vivid blue diamond sold at auction.

In a statement released here, Petra revealed that the gem – which had been cut from a 26.58 carat rough diamond – had sold for US$9 488 754 – or US$1 349 752 per carat.

The fancy, vivid blue, internally flawless, cushion-shaped diamond – weighing 7.03 carats – sold as the centre-piece of Sotheby’s Magnificent Jewels auction in Geneva. The sale price surpassed the world record price per carat achieved for any gemstone at auction, which was formerly held by a 3.73-carat, fancy, vivid blue, pear-shaped diamond which sold for just under US$1.33 million per carat at a Sotheby’s auction in May 2008. It also surpassed the world record for a fancy, vivid blue diamond sold at auction, which was formerly held by a 6.04 carat, fancy, vivid blue diamond ring which sold for just under US$8 million at a Sotheby’s auction in October 2007.

Petra Diamonds CEO Johan Dippenaar commented: “The price achieved at the Sotheby’s auction for this exquisite blue diamond reflects how incredibly rare and collectable such an important blue diamond is to the connoisseur. The renowned Cullinan mine continues to captivate the world with spectacular diamonds, building on its legacy as the source of some of the world’s most famous gems. This has been a very successful partnership with Sotheby’s, one of the pre-eminent names in jewellery sales, and has provided the perfect platform to garner international recognition for a gem of this calibre.”