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The Mediterranean Blue, a rare 10.3-carat diamond, is set to fetch $20 million at auction.
A rare 10.3-carat fancy vivid blue diamond, titled "The Mediterranean Blue," will make a splash in an auction scheduled to take place on May 13. Priced at an estimated $20 million, the gem is set to impress gem collectors and enthusiasts from across the globe. Its vivid blue color and large size make it a special discovery, as fancy vivid blue diamonds larger than 10 carats are extremely rare.
The diamond, which has been graded VS2 in clarity by the Gemological Institute of America (GIA), falls into the Type IIb category. This is awarded to diamonds that have less than 0.5% of all diamonds, further solidifying its uniqueness. The cushion-shaped modified brilliant cut of the stone accentuates its rich, oceanic blue color, making it one of the most sought-after diamonds to go under the hammer in recent history.
The Mediterranean Blue" will be on public display at Sotheby's first Abu Dhabi public exhibition since 2009. The diamond will be seen at the Bassam Freiha Art Foundation on April 8, where it will be seen by potential buyers and collectors before the auction. This is an important milestone for Sotheby's, highlighting the eagerly awaited sale.
The journey of the diamond began in 2023 when a 31.94-carat rough diamond was unearthed from the world-famous Cullinan mine in South Africa. Following a year of meticulous study and six months of accurate cutting and polishing, the stone was cut into the shining 10.3-carat gem which is soon to make history. As with the consistently breaking prices for blue greats when sold at auction, "The Mediterranean Blue" has the potential to raise great interest and maybe even create new records among the fine jewels market.
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