Sotheby’s to auction The Mediterranean Blue diamond in Geneva for $20M

Diamonds are everyone’s friends, and when it’s a rare sparkling beauty, its allure is just amplified. Such is the case with the Mediterranean Blue diamond, an ultra-rare diamond being auctioned at the Sotheby’s upcoming high jewelry sale in Geneva. What makes this gem so iconic? The Mediterranean Blue diamond is a 10.03-carat fancy vivid blue diamond, which has received the highest possible color grading for a blue diamond from the Gemological Institute of America (GIA), and is classified as Type IIb. What’s more? It is an extremely rare category comprising less than 0.5% of all diamonds. Talk about luxury!

The Mediterranean Blue will be unveiled at the Bassam Freiha Art Foundation on Abu Dhabi’s Saadiyat Island Cultural District, before exhibitions in Taipei, Hong Kong and New York, before it will be offered at auction on May 13, in Geneva. According to sources, the cushion cut diamond can fetch up to a whopping US$20 million at the auction with its gorgeous fancy vivid blue hue that’s reminiscent of the waters off the Cote d’Azur. The pricetag, definitely is justified on first sight.

According to the Sotheby’s website, the Mediterranean Blue diamond was discovered in South Africa, originally weighing 31.93 carats. It has since been cut into a cushion-shaped diamond weighing 10.03 carats, which is being auctioned today. This stone was found at the Cullinan mine, known for producing other blue gems in recent years. After a meticulous planning and cutting process that lasted six months, the diamond was shaped into a cushion modified brilliant. Its carefully arranged triangular and kite-shaped facets enhance its light reflection, giving it a classic sparkle.

Before its auction, the Mediterranean Blue will have its world debut in Abu Dhabi at the Bassam Freiha Art Foundation, a non-profit organization located in the Saadiyat Island Cultural District. After Abu Dhabi, the piece will travel to Taipei, Hong Kong, and New York before concluding its journey in Geneva, where it will be auctioned on May 13.

“The Mediterranean Blue represents one of nature’s rarest gems,” Quig Bruning, Sotheby’s head of jewelry, Americas and EMEA, said in a press statement. “Any vivid blue diamond is a discovery worth celebrating, but one as entrancing as this, particularly being over 10-carats, is a newsworthy event. The Mediterranean Blue’s remarkable size, charming cushion-cut and ocean-blue color places it in the rarefied company of some of the most important blue diamonds to come to market in recent years.”