Blue diamond sold for $25 million in New York

Latest Update: June 11, 2016 | 220 Views

NEW YORK: A blue diamond from the South African mine, famous for contributing to the British Crown Jewels, sold for more than $25 million in New York on Thursday, Christie s said.

The auction house said the Cullinan Dream was the largest Fancy Intense Blue type diamond to go under the hammer and was snapped up by an absentee bidder for $25.4 million including premiums.

Christie s said it is the biggest of four blue diamonds, cut from a 122.52 carat rough, discovered in 2014 at the Cullinan mine northeast of Pretoria, where the biggest-ever rough diamond was unearthed a century ago.

The mine yielded the 530.20 Cullinan-I, which is the largest polished white diamond in existence and part of the Crown Jewels housed at the Tower of London.

Thursday’s sale comes weeks after a dazzling blue diamond, once owned by Britain’s late mining magnate Philip Oppenheimer, fetched a record $57.5 million in Geneva.

Jewel auctions have seen a surging value of precious stones as the world’s ultra rich invest in hard assets as a safeguard against stock market volatility.


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