Hoping blue diamond goes for a fancy price
Print Edition
A RARE round blue diamond will go under the hammer in Hong Kong in October, with auctioneers hoping the sale will fetch a record-breaking US$19 million.
Auction house Sotheby’s expect the 7.59-carat fancy vivid blue diamond, which is about the size of a shirt button, to set a record for price-per-carat.
Quek Chin Yeow, Sotheby Asia’s deputy chairman, said Hong Kong is the natural venue to sell the gem, known as “The Premier Blue,” with collectors expected to fly in from all over the world.
“While there is a slowdown (in the Chinese economy), the number of top-level collectors are still there,” he said.
“We have been selling very well in Hong Kong.”
Hong Kong has become a centre for jewelry auctions, thanks in part to growing wealth on China’s mainland.
Blue diamonds seldom hit the market and have been coveted by royals and celebrities for centuries, while a round cut is rarely used in colored stones due to high wastage.
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.
“Fancy” describes a diamond of intense color, while a colored gem’s saturation ranges from light to vivid.
The Premier Blue will go up for auction on October 7. Quek said the owner wanted to remain anonymous.
(AFP)
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