Recently, the world-renowned auction house Sotheby’s showcased a collection of rare diamonds, including a 10-carat blue diamond in the United Arab Emirates (UAE). Sotheby’s expects this precious blue diamond to fetch a high price of $20 million next month.
According to reports by the Associated Press, on April 8, these diamonds were publicly displayed in Abu Dhabi, the capital of the UAE. The collection consists of 8 diamonds with a total weight exceeding 700 carats, including red, yellow, pink, and colorless diamonds. The total value of these jewels is estimated to be $100 million.
Sotheby’s stated that the rare diamonds showcased include the world’s largest flawless diamond, the second-largest known red diamond, and several diamonds over 100 carats.
Reported by Agence France-Presse, these gems were exhibited alongside luxurious jewelry, including a necklace set with white diamonds featuring a 100.26-carat pear-shaped brown diamond pendant.
Of particular attention is a 10-carat blue diamond named “Mediterranean Blue.” Originating from South Africa, it is regarded as one of the most significant blue diamonds discovered to date.
This blue diamond is set to be exhibited and auctioned in mid-May in Geneva, Switzerland. Sotheby’s estimates it could fetch $20 million. Before that, it will tour cities such as Taipei, Hong Kong, and New York.
Quig Bruning, head of Sotheby’s Jewelry Department in North America, Europe, and the Middle East, stated that blue diamonds are among the rarest in the world. The company chose to hold this exhibition in Abu Dhabi due to the country’s keen interest in diamonds, believing the Persian Gulf region to be a core market for luxury goods.
For years, the resource-rich and mostly tax-free Persian Gulf region has attracted high net worth individuals and super-rich individuals.
Bruning told the Associated Press, “We are very optimistic about this region. We strongly feel that both traders and collectors are present here for these important and rare diamonds.”
Sotheby’s noted that in 2022, a blue diamond named “The De Beers Cullinan Blue” was auctioned in Hong Kong for $57,471,960, ranking among the highest-priced diamonds at auction.
Its auction price was close to the world record holder, the “Oppenheimer Blue,” a blue diamond that sold for $57,541,779 in 2016, setting the record for the highest auction price for a blue diamond.