Flawless 13ct blue diamond smashes auction record

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The pear-shaped diamond was purchased by Harry Winston for £14m.

A pear-shaped blue 13.22ct diamond nicknamed ‘The Blue’ has broken the world record at auction having been sold to American jeweller Harry Winston for $23.8 million (£14.1m).

Thought to have been mined in South Africa, the blue diamond was described by auction house Christie’s as “absolutely perfect” ahead of the sale last night (May 14 2014).

The vivid stone also set a world auction record of $2m per carat for a blue diamond.

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In the past decade, only three blue diamonds of 10 carats or more with the same vivid grading have been sold at auction. All weighed less than 12 carats and none were flawless.

Commenting on the auction of The Blue, The Genuine Gemstone Company’s chief executive Steve Bennett said: “Coloured diamonds and gemstones have never been more popular and the competitive bidding on this stone at auction has perfectly demonstrated that. It is the latest step in soaring demand for what the trade calls fancies.

“Beautiful gemstones, and diamonds in particular, attract a lot of attention at auction and can often well exceed their valuations. The increased popularity is being driven by a greater customer awareness of the variety of gemstones and what is available on the market. Consumers are actively looking for unusual alternatives to a clear diamond, which allow them to express their own individuality.

“High profile engagement rings are always a good indicator of future trends and also increase demand. When the Duchess of Cambridge revealed hers, it caused a large resurgence in sapphires. However, she was actually following the trend this time, as well as fuelling it.”

He continues: “Despite the £14.1m price tag, The Blue is without doubts a great investment opportunity and has set a new world auction record. Stones of this size, colour and quality are extremely rare and this will only ever drive the price upwards.

“However, what many people don’t realise is that there are a handful of less famous gemstones around the world which are thousands of times more rare than diamond. Csarite for example, can only been sourced from a single location in south Eastern Europe.”

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