Bleu Royal diamond rakes in nearly $44 mln at auction

GENEVA

An exceptionally rare blue diamond went under the hammer in Geneva on Nov. 7, selling for more than $40 million, making it one of the most expensive diamonds ever sold at auction, Christie's said.

Weighing 17.61 carats, the Bleu Royal is the largest internally flawless fancy vivid blue gem ever to appear for sale in auction history.

The Bleu Royal had been expected to fetch between $35 million and $50 million in Christie's Magnificent Jewels auction. After an intense seven-minute bidding round between three potential buyers, it was snapped up by an anonymous private collector for 39.505 million Swiss francs ($43.8 million), including tax and fees.

"We are extremely pleased," Max Fawcett, Christie's head of jewelry in Geneva, told AFP shortly after the final hammer came down.

The gem, he pointed out, had sold for nearly $2.5 million per carat, making it "the most expensive jewelry lot sold in all of 2023" by any auction house worldwide.

And historically, "it is in the top-10 most expensive lots ever sold in terms of jewelry," he said.

The pear-shaped diamond, set on a ring, has been in a private collection for decades, and Tuesday's sale marked the first time it went to auction.

Before the sale, Christie's international head of jewelry Rahul Kadakia highlighted the gem's extraordinary color. He pointed out to AFP that many modern colored diamonds had a modified cut to enhance the color.

In the Bleu Royal's case, "the rough material itself was so rich that they were able to cut it into a classic brilliant faceting style," he said.

"It checks all the boxes - really top of its class," he added.