The Jewelry Insider

May 4, 2010

One deep-pocketed buyer was feeling blue to the tune of $8 millionĀ at Sotheby’s auction in Geneva. See the blue diamond that brought in the big bucks.

Sotheby’sĀ pocketed yet another record pay day when a 7.64 carat fancy intense blue diamond sold in Geneva this week to an anonymous client for a mere $8,034,503. That’s over $1 million per carat – a record for a blue diamond of this quality. The auction house reports this is the largest cushion-shaped stone of this color grading ever to appear at auction with a final price tag soaring above the original estimate of $4 -6 million. The second-highest selling lot of the day behind the $8 million blue diamond was a 52.82-carat, emerald-cut diamond sold to a U.S. dealer for $7.93 million. “Today’s outstanding results once again demonstrate the vibrancy and depth of the international jewelry market and the enormous appetite throughout the world for jewels and gemstones of the very best quality,” David Bennett, chairman of Sotheby’s International Jewelery department for Europe and the Middle East, said in the release. A second blue diamond, a 5.02-carat fancy vivid stone set with a 5.42-carat white diamond ring from French jeweler Alexandre Reza, sold for $6.32 million. The sale set a new auction record price for a jewel by any French designer, according to Sotheby’s. Visit our jewelry education section for more information about natural colored diamonds and why they bring in such a hefty price tags! Or play the blues with our huge selection of blue gemstone jewelry – from sapphires and aquamarines to blue topaz and turquoise styles.

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