Blue Diamonds

Rare blue diamonds record breaking prices

Over recent years, the prices for blue coloured diamonds have also risen significantly, largely driven by mounting supply constraints. The principal mine producing blue diamonds in South Africa has passed its peak production capacity, resulting in a significant decrease in global supply. In terms of scarcity, blue diamonds have greater rarity than their pink diamond counterparts, constituting less than 0.004% of global production. Hammer prices for blues at auction have thus been continuously breaking records, to the point of doubling pre-sale estimates.

Due to the diminishing supply and increasing demand for blue diamonds, it goes without saying that they don't come at a low cost.

The NCDIA recently reported that prices for natural blue diamonds has been gradually and consistently rising between 12 and 17 percent every year over the past decade, regardless of the saturation level.

The source estimated that vivid blue stones weighing more than 3 carats fetch $1 million per carat or more.

Only about two to four important blue gems come to market annually. Of course, as with any diamond, the carat weight, clarity and cut of a blue stone will also have an impact on the value.

There's no doubt that the Hope Diamond is the most famous blue stone in history (and probably most famous diamond in the world). Jeweller Magazine noted that this fancy dark greyish blue gem, which weighed in at an astounding 45.52 carats, has a long and complex story attached to it, including a number of deaths that have led many to believe it's cursed. Famous jeweller Harry Winston bought the Hope, but only owned it for a day before donating it to the Smithsonian Natural History Museum.

Other impressive finds have popped up throughout the years. For example, The Star of Josephine, a 7.0-carat cushion-cut fancy vivid blue and internally flawless diamond that was unearthed in 2008, sold at a Sotheby's auction just one year later for $9.49 million - or at $1.35 million per carat. It set a world record at the time for the highest price per carat for any gemstone at auction.

The 42.92-carat pear-shaped Tereschenko diamond is the second largest fancy blue stone in the world after the Hope.
Of course, one can't discuss blue diamonds without citing the famous Wittelsbach-Graff, which was discovered sometime in the mid-1600s and after being bought, recut and repolished by Laurence Graff, weighs a notable 31.06 carats. It fetched an impressive $24.3 million in 2011.

More recently, though, a 29.6-carat rough blue diamond from Petra sold for a staggering $25.6 million - nearly $1 million per carat. At a Christie's auction during 2014, an Internally Flawless vivid blue pear-shaped stone aptly named The Perfect Blue caused quite a stir - and raked in more than $24.24 million, meaning it almost beat out the Wittelsbach Diamond. Harry Winston, the winning bidder, renamed it the Winston Blue.

Fancy Pink diamonds are assessed according to intensity of colour, or a combination of saturation and tone. The following chart describe pink diamond intensities; the further along this spectrum you go, the richer and more intense the pink is to be seen in the diamond.

THE BRIGHTER & MORE INTENSE, THE MORE IT WILL BE WORTH.

Unearthed in the same Golconda mine as the Hope diamond, the Wittlesbach-Graff blue diamond weighs a breath-taking 31.06 carats – unheard of for a stone of this hue. Steeped in regal mysticism, it was set within many different crown jewels during various dynasties of Europe’s monarchies. When Laurence Graff acquired the stone in 2009, he bravely decided to re-polish it, repairing its weathered surface and improving its colour, making it the largest natural Fancy Deep Blue Internally Flawless diamond ever discovered. 

An oval diamond is an elongated version of the round brilliant diamond. If well proportioned, this beautiful cut gives great brilliance, fire and scintillation. It is generally polished with 56 facets.

The Pear shape is a unique hybrid cut, shaped like a tear drop and combining the best of the marquise and round brilliant cut. well proportioned, it gives a depth of scintillation. 

Unearthed in the same Golconda mine as the Hope diamond, the Wittlesbach-Graff blue diamond weighs a breath-taking 31.06 carats – unheard of for a stone of this hue. Steeped in regal mysticism, it was set within many different crown jewels during various dynasties of Europe’s monarchies. When Laurence Graff acquired the stone in 2009, he bravely decided to re-polish it, repairing its weathered surface and improving its colour, making it the largest natural Fancy Deep Blue Internally Flawless diamond ever discovered.

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