Blue Diamond Fetches 10.5 Million Swiss Francs at Auction
A fancy vivid blue diamond mounted on a platinum ring sold for 10.5 million Swiss francs ($9.5m; £6.2m, including commission) at an auction in Geneva yesterday. This is the highest price ever paid per carat for any gemstone sold at auction. The anonymous phone bidder who won the 15-minute bidding battle to buy the diamond will be allowed the honour of naming it.
The flawless, 7.03-carat cushion-shaped diamond was cut from a 26.58-carat rough diamond that was found last year in the Cullinan mine in South Africa. Diamond cutter Gary Monnickendam took seven weeks to transform the rough diamond into its final form. He spent the first two weeks studying it carefully, and the next five weeks cutting and polishing it. The diamond's vivid blue colour is due to the presence of boron in its composition. Natural blue diamonds are very rare; there are believed to be only a handful in existence in the world.
2009-05-13