Sotheby’s Hong Kong to Auction Rare Round Blue Diamond: The Premier Blue

Sotheby's Premier Blue Diamond

Sotheby’s Premier Blue Diamond

Sotheby’s auction house has announced the lineup for its October 7 Magnificent Jewels and Jadeite sale in Hong Kong. The undisputed star of the show is The Premier Blue, the largest Round Brilliant-Cut Internally Flawless Fancy Vivid Blue diamond ever to appear at auction. At 7.9 carats, The Premier Blue is also the largest diamond of its kind ever graded by the Gemological Institute of America.

Fancy Color Diamond connoisseurs, collectors and investors from all over the world are expected to fly in to Hong Kong to attend the auction, and many more dealers and collectors will discretely place their bids
by phone. Diamond experts are predicting that The Premier Blue, which is about the size of a shirt button, could break the world-record per carat price for any diamond sold at auction. Officials at Sotheby’s are estimating that this one will fetch $19 million, or a staggering $2.5 million per carat.

Sotheby's AuctionPhoto Courtesy of The New York Times
Sotheby’s Auction
Photo Courtesy of The New York Times

The Rarest of the Rare

Fancy Color Diamonds are extremely rare and can be worth from 10 to 50 times their colorless counterparts. Only about .001% of all diamonds mined possess enough color to be considered Fancy Color Diamonds, and of those, blue diamonds are even a smaller percentage. Blue diamonds of over one carat are rarer still.

The Premier Blue’s Fancy Vivid Blue designation from the GIA means it is the most thoroughly saturated with color—a bright, pure blue hue. The stone is also rated Internally Flawless (IF), which is the highest clarity rating it can achieve.

But the real game-changer — and the reason the jewelry world is focused on The Premier Blue — is its rare Round Brilliant cut. While Round Brilliant continues to be the preferred cut for colorless diamonds, the shape is exceptionally rare and difficult to achieve in natural colored diamonds. In fact, officials at Sotheby’s say no Round Brilliant Fancy Vivid Blue diamond near this significance has ever come up at auction.

Look for Obsessed by Jewelry to bring you the results of this important (and most likely record-breaking) sale. Or to see for yourself, follow the auction action in real time – that’s Hong Kong time — at http://www.sothebys.com/en/auctions/watch-live.html

The Hope Diamond
The Hope Diamond
Image Courtesy of The Smithsonian Institute

Blue diamonds rarely come to market and have been coveted by royals and celebrities for centuries. The most famous example of a blue diamond is the Hope Diamond, which was bought by King Louis XIV of France in the 17th Century. It is now on display in The Harry Winston Gallery of the Smithsonian Institute.

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