London, England — MININGREVIEW.COM — 01 April 2009 – Petra Diamonds – now one of the world’s largest independent diamond groups in terms of resources – has revealed that the centre-piece of the upcoming Sotheby’s Sale of Magnificent Jewels will be a rare, fancy, vivid, internally flawless, cushion-shaped, blue diamond weighing 7.03 carats.
Announcing this here, Petra said that the diamond had been cut from the 26.58 carat rough stone discovered in 2008 at its historic Cullinan diamond mine in South Africa. The pre-sale estimate was US$5.8 (R55 million) to US$8.5 million (R80 million), and the buyer would have the honour of naming the diamond.
At a weight of 7.03 carats, the diamond ranks among the most important blue diamonds ever offered for sale by Sotheby’s. The Gemological Institute of America (GIA) has graded the stone as fancy vivid blue in colour and internally flawless in clarity, the highest possible grading for a blue diamond. Blue diamonds, which are among the rarest of all gems, owe their colour to the presence of the chemical element boron during the stone’s formation. The Cullinan mine is the world’s most consistently reliable source of blue diamonds, and this stone is a perfect example of Cullinan diamonds at their best.
A marketing programme to exhibit the diamond in Hong Kong, Paris, New York and London has been arranged by Sotheby’s ahead of the sale, to be held at the Beau-Rivage Hotel in Geneva on 12 May 2009.
Commenting on the diamond, Petra Diamonds CEO Johan Dippenaar said: “This fancy vivid blue, flawless diamond is a very rare and unique gem. Given its distinguished heritage, it is fitting that Sotheby’s should further establish its legacy by marketing the gem as the cornerstone of its exclusive ‘Magnificent Jewels’ collection in Geneva.”
David Bennett, chairman, Europe & the Middle East of Sotheby’s International Jewellery Department, said: “This stone certainly ranks among the most important blue diamonds that I have had the privilege of offering for sale in my career at Sotheby’s.”