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.
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.