Rare vivid blue diamond goes on auction in Geneva

Record ID: 104174

  • Title: Rare vivid blue diamond goes on auction in Geneva
  • Date: 12th May 2016
  • Summary: GENEVA, SWITZERLAND (MAY 12, 2016) (REUTERS) GENEVA LAKE 14.62 CARATS "OPPENHEIMER BLUE" DIAMOND ON DISPLAY PHOTOGRAPHER "OPPENHEIMER BLUE" DIAMOND ON DISPLAY (SOUNDBITE) (French) CHRISTIE'S JEWELLERY DEPARTMENT SENIOR INTERNATIONAL SPECIALIST JEAN-MARC LUNEL SAYING: "This stone is exceptional for more than one reason. It is the 'Oppenheimer blue diamond,' a 14.62 carat fancy vivid blue diamond, that is to say the largest diamond to have ever been offered at a public auction." PHOTOGRAPHER FILMING MODEL HOLDING THE 14.62 CARATS "OPPENHEIMER BLUE" DIAMOND VARIOUS OF MODEL HOLDING "OPPENHEIMER BLUE" DIAMOND ON DISPLAY (SOUNDBITE) (French) CHRISTIE'S JEWELLERY DEPARTMENT SENIOR INTERNATIONAL SPECIALIST JEAN-MARC LUNEL SAYING: "This diamond is all the more rare, because in nature only 0.5% of all diamonds extracted present a blue color. And just one percent of this 0.5% will produce diamonds qualified as 'fancy vivid blue,' which means bright blue. Generally these stones weigh between 1 and 3 carats, sometimes five carats. Beyond 10 carats it is absolutely exceptional. This one weighs 14.62 carats. " PHOTOGRAPHER FILMING MODEL HOLDING "OPPENHEIMER BLUE" DIAMOND "OPPENHEIMER BLUE" DIAMOND IN FRONT OF MODEL'S EYES (SOUNDBITE) (French) CHRISTIE'S JEWELLERY DEPARTMENT SENIOR INTERNATIONAL SPECIALIST JEAN-MARC LUNEL SAYING: "The traditional Asian buyers will naturally be there, and we do hope so, but there are clients from other countries or regions, from the Middle East, from the United States. There are billionaires or millionaires, who want to invest in diamonds, and more particularly in diamonds such as this one, which are exceptional, and that won't be found on the market again for a long while." VARIOUS FANCY VIVID ORANGE-YELLOW 12.20 AND 11.96 CARAT DIAMOND EARRINGS WORN BY MODEL MIRROR REFLECTION OF MODEL WEARING THE ORANGE-YELLOW DIAMOND EARRINGS HOTEL WHERE THE JEWELS ARE BEING DISPLAYED AND WHERE THE AUCTION WILL TAKE PLACE
  • Embargoed: 27th May 2016 17:33
  • Keywords: blue diamond Christie's luxury
  • Location: GENEVA, SWITZERLAND
  • City: GENEVA, SWITZERLAND
  • Country: Switzerland
  • Topics: Arts/Culture/Entertainment
  • Reuters ID: LVA0014HI7YHL
  • Aspect Ratio: 16:9
  • Story Text: It is one of the rarest diamonds available on the market that will go under the hammer in Christie's semi-annual auction in Geneva in one-week's time, one of the auction house's specialists said on Thursday (May 12) as the "Oppenheimer Blue" was being presented, and the largest one to ever be offered on a public sale.
    Estimated between US$38 and 45 million, the rectangular-cut "Oppenheimer Blue" weighs 14.62 carats, and has been graded by the Gemological Institute of America (GIA) as "fancy vivid blue", meaning its blue color ranges from medium to dark in tone, and from strong to very strong in saturation, without presence of any other tint, like grey for instance which is commonly observed in blue diamonds.
    "This stone is exceptional for more than one reason. It is the 'Oppenheimer blue diamond', a 14.62 carat fancy vivid blue diamond, that is to say the largest diamond to have ever been offered at a public auction," Christie's senior international specialist from its jewellery department Jean-Marc Lunel told Reuters TV.
    "This diamond is all the more rare, because in nature only 0.5% of all diamonds extracted present a blue color. And just one percent of this 0.5% will produce diamonds qualified as 'fancy vivid blue,' which means bright blue. Generally these stones weigh between 1 and 3 carats, sometimes five carats. Beyond 10 carats it is absolutely exceptional. This one weighs 14.62 carats," he added.
    Its provenance, according to Lunel, adds to its prestige and also gives it an historical interest, as it used to be previously owned by Sir Philip Oppenheimer who belonged to the family who ran the De Beers mining company.
    De Beers had a monopoly in extracting and commercialising diamonds in the 20th century.
    Last year, an extremely rare and flawless 12.03 carat "Blue Moon of Josephine" diamond estimated between $35 - 55 million was sold at Sotheby's rival's auction for more than $48.4 million to a Hong-Kong buyer, setting a world record for a gemstone at a public sale.
    A few days before, a large diamond of a rare pink hue had fetched $28.55 million at Christie's spring semi-annual sale, setting also a world record for any pink diamond ever offered at auction.
    Lunel has no doubt this jewel could also generate a hefty price, given the appetite for stones from buyers in Asia and other regions.
    "The traditional Asian buyers will naturally be there, and we do hope so, but there are clients from other countries or regions, from the Middle East, from the United States. There are billionaires or millionaires, who want to invest in diamonds, and more particularly in diamonds such as this one, which are exceptional, and that won't be found on the market again for a long while," he said.
    Along with this rare blue diamond, a pair of fancy vivid orange-yellow earrings - one weighing 12.20 carats and the other 11.96 carats - will go under the hammer, among 280 lots. The earrings are estimated between US$9,759,910 and US$12,842,000.
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