A rare and vivid blue diamond… The most expensive jewel of the year sold at Sotheby’s for $21.5 million USD.
Named “The Mediterranean Blue”, the diamond was discovered two years ago in the Cullinan mine in South Africa and was sold for $21.5 million during a Sotheby’s auction in Geneva. As an extremely rare type of diamond, The Mediterranean Blue created a stir in the diamond world when it was first announced in March 2023. True to its name, The Mediterranean Blue represents the highest possible color grading for a diamond. According to the Gemological Institute of America (GIA), only about 0.5% of all diamonds are this rare and achieve such a vivid blue hue.
The Cullinan mine, where the diamond was found, has been the source of many of the world’s most renowned diamonds. Among them are the 530-carat Star of Africa, unearthed in 1905, and the Blue Moon of Josephine, which was also previously sold at Sotheby’s. Quig Bruning, Head of Jewelry for Sotheby’s Americas & EMEA, noted that The Mediterranean Blue ranks among the most exceptional blue diamonds the auction house has ever sold.
The bidding began at 9 million Swiss francs and, after a three-minute contest between two bidders, the diamond was sold for $21.5 million USD (17.9 million Swiss francs). The buyer is reported to be a special collector from the United States.
