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Wednesday, May 13, 2009

Diamond sets a record 

A flawless, vivid blue, diamond weighing 7.03 carats sold for almost ten million dollars this week...

not the Blue Diamond in question.

Reuters reports that the price paid, a stunning $9.49 million, was a new record for a fancy vivid blue diamond. The auction was held by Sotheby's jewelry department, Europe and the Middle East, and conducted by chairman David Bennett. The final two bidders apparently battled back and forth in hectic fifteen minutes by phone before the diamond was sold.

Sotheby's noted that the rectangular-shaped blue stone set a record for price per carat of any gemstone ever sold at auction, $1,349,752/carat. Blue diamonds are the rarest members of the diamond family after reds. According to Reuters the new owner will have the right to name the stone, which is mounted in a platinum ring. It was put up for sale by London-listed Petra Diamonds, which extracted it last year from the historic Cullinan mine in South Africa.

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