Largest flawless vivid blue diamond up for auction

NEW YORK: It's being described as 'blue perfection' by jewelry experts. 'The Blue', the largest flawless fancy vivid blue diamond in the world is slated for auction at Christie's. And it is just as expensive as it is beautiful.

Pegged at $21 to $25 million (USD) it leads the upcoming Magnificent Jewels sale in Geneva and is currently on display in New York.



Rahul Kadakia, the Head of Jewelry for Christie's Americas & Switzerland, says this is the largest fancy vivid blue diamond ever to appear at auction. What makes it special, according to Kadakia, is that blue diamonds are very rare and make less than two percent of world diamond production.

While 'The Blue' is the chief draw of the upcoming sale, there are other fancy delights for jewelry lovers.

'The Blue' will be accompanied by 'The Ocean Dream', which Christie's claims is the largest fancy vivid blue-green diamond in the world. At 5.5 carat, the diamond is estimated at 7.5 to 9.5 million (USD), though Kadakia concedes that it could fetch up to even 10 million.

For those with deep pockets and a taste for the even more exotic, there is 'The Rajah' diamond. 'Rajah' in Hindi means 'king'. This king probably originated from India and was bought by Tiffany & Co. in the 1800s. It was then sold to Isabella Stewart Gardner. It went under the hammer at Christie's once before in 1997 and is now back at auction.

Individual fancy diamonds are commanding the highest prices at this sale. But there is also an array of necklaces, brooches and ear-rings. Sparkling brightest in this category is a belle epoque diamond devant-de-corsage brooch, by Cartier, estimated at $7 to $12 million (USD). While a sapphire and diamond necklace by Harry Winston is estimated at $1.1 to $1.8 million.

Christie's hopes that the overall sale of Magnificent Jewels in Geneva on May 14th will fetch upwards of 100 million dollars.