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De Beers Oval Blue Diamond Expected to Fetch up to $35M

Mar 13, 2016 7:54 AM   By Rapaport News
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RAPAPORT... Sotheby’s hopes to raise $30 million to $35 million (HKD 235 million to 280 million) from the sale of the largest oval fancy vivid blue diamond ever to appear at an auction.

The “rare and superb,” 10.10-carat stone, known as the ‘De Beers Millennium Jewel 4,’ is internally flawless and will appear at the Magnificent Jewels and Jadeite Spring Sale in Hong Kong on April 5, according to a statement by Sotheby’s Hong Kong March 11.

The gem is from an Asian private collection, and is the only oval-shaped stone among the twelve rare diamonds – eleven blue and one colourless – that form the De Beers Millennium Jewels collection unveiled by De Beers in 2000 in celebration of the millennium.

The diamond will be exhibited in New York, London, Geneva, Singapore, Taipei and Hong Kong ahead of the auction at the Hong Kong Convention and Exhibition Centre.

“The market for coloured diamonds has gone from strength to strength and this spring we are thrilled to present the ‘De Beers Millennium Jewel 4,' the largest oval fancy vivid blue diamond ever to appear at auction,” said Quek Chin Yeow, Sotheby’s deputy chairman for Asia and chairman of international jewelry for the continent.

“Fifteen years ago I had the great opportunity of seeing this magnificent stone for the first time and it is an absolute delight now to have it in one’s hand, to admire it again and to offer it for auction in Asia.”

The news comes after Sotheby’s sold the 12.03-carat, internally flawless Blue Moon diamond for a world record $48.5 million at its auction in Geneva last November.
Tags: Auctions, colored diamonds, fancy vivid blue diamonds, Hong Kong, Rapaport News, Sotheby’s
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