Sotheby’s (NYSE:BID) to Offer the Farnese Blue Diamond, Not Seen in 300 years

Sotheby’s (NYSE:BID) to Offer the Farnese Blue Diamond, Not Seen in 300 years

Sotheby’s (NYSE:BID) to Offer the Farnese Blue Diamond, Not Seen in 300 years

$BID

A 6.16-carat diamond called Farnese Blue will appear on the market for the 1st time in history this Spring, after having remained in the same family for over 30o years.

Sotheby’s (NYSE:BID) will be offering the gem at its Magnificent Jewels and Noble Jewels sale taking place in Geneva, CH on 15 May 2018.

The stone’s value is estimated between $3,690,000 and $5,270,000.

According to a press release issued by the auctioning house, the pear-shaped blue diamond was given by the Philippines to Elisabeth Farnese, Queen of Spain (1692-1766), and has subsequently passed down through 4 of the most important royal families in Europe: Spain, France, Italy, and Austria.

It is said that the fancy dark grey-blue diamond originated at the Golconda mines in India and has travelled throughout the old continent for some 300 years, from the aftermath of the Spanish Succession War to the fall of the Habsburg Empire.

However, with the exception of close relatives and the family jewelers, no one knew of its existence.

Sotheby’s management has expressed feeling honored for being entrusted with the sale.

“With its incredible pedigree, the Farnese Blue ranks among the most important historic diamonds in the world. From the 1st minute I saw the stone, I could not resist its magic,” Philipp Herzog  vWürttemberg, Chairman of Sotheby’s Europe and Managing Director of Germany, said.

Symbol Last Trade Date Change Open High Low Volume
NYSE:BID 51.31 29 March 2018 0.65 51.03 51.87 50.33 486,300
HeffX-LTN Analysis for BID: Overall Short Intermediate Long
Neutral (0.20) Neutral (-0.01) Very Bullish (0.50) Neutral (0.11)

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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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