The ‘Cullinan Dream’ Blue Diamond Hammered for $25.4-M

The ‘Cullinan Dream’ Blue Diamond Hammered for $25.4-M

The ‘Cullinan Dream’ Blue Diamond Hammered for $25.4-M

The successful auction price makes it the most expensive fancy intense Blue Diamond ever sold at auction.

A 24.18-carat intense blue known as The Cullinan Dream has just sold for $25.4-M at Christie’s Magnificent Jewels auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

The Diamond, cut from a 122.52-carat stome found at Petra Diamond’s (L:PDL) Cullinan mine in South Africa in Y 2014, is the largest of 4 Blue Diamonds made from the original rough stone.

The Cullinan Dream, a cut-cornered rectangular mixed-cut diamond, has been classified by the Gemological Institute of America as Type IIb. Those kinds of gems are very rare and account for less than 1/2 of 1% of all Diamonds found in nature.

Massive Cullinan Dream blue diamond fetches over $25m at auction

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

Type IIb gems contain a small amount of the element boron 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 mine is best known for the discovery of the Cullinan Diamond, at 3,106 carats the largest rough Diamond ever found. The gem was cut into 2 highly significant Diamonds, which can be found in the British Crown Jewels.

Since acquiring a majority stake in the mine in Y 2008, Petra Diamonds has found some high-profile Blue Diamonds, including “The Blue Moon of Josephine,” which sold in November for $48.5-M and “The Star of Josephine”, a 7.03 carat polished gemstone that sold in Y 2009 for $9.49-M, representing what at the time was a world record price per carat of $1.35-M.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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