Blue Heaven – Will the Price go Sky High?

Posted on May 6 2014 - 6:23pm by GJ Staff

A legendary gem goes on sale on May 14th in Christie’s auction at Four Seasons Hotel des Bergues in Geneva. The headline ‘World’s Largest Vivid Blue Diamond to Sell for $25 Million’ is probably an underestimation of the final bid. At 13.22 carats, it is expected to exceed the expected bid price. Known simply as ‘The Blue,’ or ‘Heaven,’ the flawless gem is pear-shaped and of a deep cobalt blue hue. Its current owner, who has had the gem for a long time, prefers to remain anonymous.

The-Ocean-Dream-diamond-2014

The blue diamond is the top lot in Christie’s Magnificent Jewels auction, which also includes a turquoise blue diamond called the Ocean Dream which, at 5.50 carats, is estimated to be worth around $9.5 million. Although diamonds come in a range of colors, blue stones are about the most rare.

Other items in this fabulous auction include a flawless pear-shaped diamond of 75.97 carats with an asking price of $14 to $15 million; a brilliant cut 26.14 carat diamond, The Rajah, which is given an estimate of $3 to $5 million, and a pale pink square diamond of 76.51 carats. This has been set as the center stone of a necklace by Leviev, and the estimate is $7 to $10 million. There are 250 lots in total, and sales are expected to exceed $80 million.

Rival auction house Sotheby’s are holding their own jewel sale the day before, and the star of their collection is the Graff Vivid Yellow diamond which, at 100.09 carats, has an estimated price of $25 million.

A vivid orange diamond, the world’s biggest, was sold by Christie’s six months ago for $35.5 million. It greatly exceeded the original top estimate of $20 million – a world record for an orange diamond. This leads people to believe that both ‘Heaven’ and ‘Ocean Dream’ will sell at auction for much more than their catalog guide price, perhaps creating new world records for these rare and precious blue gems.