hong kong diamond auction

Sky Blue Diamond Fetches Sky High Price

A sky blue diamond fetched a sky high price at the Sotheby's auction in Hong Kong this week. The 5.16 carat blue diamond auctioned off at the Hong Kong Magnificent Jewels and Jadeite Spring Sale on April 7 was estimated to bring in between $4.6 million and $5.8 million. It sold for HKD 49.94 million ($6.4 million) healthily above the high estimate. London's Moussaieff Jewelers has been identified as the buyer of the stone.

The rarer-than-rare pear-shaped fancy vivid blue diamond is internally flawless and was the first blue diamond from the De Beers Millennium Jewels Collection to appear at auction. The phenomenal collection was presented by De Beers in 2000 to celebrate the new millennium. At $1.25 million per carat, the De Beers Millennium Blue exceeds the price per carat of the famed Wittelsbach Diamond and nearly approached the record setting price of $1.35 million per carat for a 7.03 carat blue diamond and the 5 carat fancy intense pink diamond sold in Hong Kong last year for $2.1 million per carat.

Andrew Coxon,who personally selected the diamonds for the collection based on their beauty and rarity, says of the sale: "Impeccable provenance is worth millions to sophisticated diamond buyers. The timeless beauty of a De Beers selected Millennium Blue diamond will be remembered long after its near record-setting price has been forgotten. Personally, I wish I could have bought it back for De Beers, but professionally speaking, I sincerely congratulate the new owners and I am happy that the new owners appreciated this particular De Beers selected diamond."

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