An exceptionally rare blue diamond went under the hammer in Geneva late Tuesday, selling for $21.5 million.
The Mediterranean Blue, a fancy, vivid blue diamond weighing 10.3 carats with an estimated value of $20 million, attracted an intense bidding battle.
Bidding began at nine million Swiss francs ($10.8 million), with a fierce back-and-forth before the diamond was ultimately sold to a private US collector, whose name was not given, for 17.9 million francs ($21.5 million).
The Mediterranean Blue, which is a brand-new blue diamond recently mined from the Cullinan mines of South Africa, generated huge excitement within the diamond industry ever since it was first announced in March.
Ahead of its final showing in Geneva on Tuesday, it was unveiled as part of a Sotheby’s debut exhibition in Abu Dhabi last month, where it was showcased alongside seven other “extraordinary” diamonds and gemstones collectively worth over $100 million.The diamond did exceed its $20 million estimate.
