“Oppenheimer Blue” Diamond Hammered for $57.5-M at Christie’s

“Oppenheimer Blue” Diamond Hammered for $57.5-M at Christie’s

“Oppenheimer Blue” Diamond Hammered for $57.5-M at Christie’s

A 14.6-carat blue diamond auctioned at Christie’s in Geneva for $57.5-M, including fees, becoming the most expensive diamond ever auctioned.

Christie’s amended the final sale price late Wednesday night.

The stone, called the “Oppenheimer Blue,” followed a record-high jewelry sale by Sotheby’s (NYSE:BID) Tuesday, which totaled $175-M, the highest total ever for a jewelry sale. The sales show that despite the volatile financial markets and slower art market, rare diamonds have retained their demand among gemstone collectors.

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The Sotheby’s sale included the $31.6-M sale of the “Unique Pink,” a 15.4-carat fancy vivid pink stone.

The “Oppenheimer Blue” is among the most prized in the diamond world.

Blue Diamonds are the rarest and most sought-after color. And the Oppenheimer Blue was owned by Philip Oppenheimer, the late Chairman of the De Beers diamond-marketing cartel.

Only 10% of all blue diamonds discovered are larger than 1 carat, making the Oppenheimer Blue a highly prized creation of nature. It also has the highest color rating of “vivid.”

The 12.03-carat “Blue Moon Diamond,” sold by Sotheby’s (NYSE:BID) in November for $48.5-M, previously held the title of the priciest diamond sold at auction.

Stay tuned…

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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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