14 DAY TRIAL // A ring like this could easily be any woman’s dream engagement ring but, given its quality, beauty and, ultimately, almost unbelievable price tag, chances are only one most lucky lady will be able to show it off – if at all. According to SwissInfo, a gorgeous blue diamond set on a platinum ring has just been auctioned off for a whopping $10 million. The identity of the owner has not yet been disclosed to the media.
Cut from a “26.58-carat rough stone unearthed last year at Petra Diamond’s Cullinan mine, near Pretoria, in South Africa,” the 7.03-carat blue diamond has just set a new record in terms of price and the time it took to have it sold off. The auction took place in Geneva over phone and lasted no more than 15 minutes until one of the two callers backed off. The winner paid $9.49 million for the rock, thus demonstrating that, even in these dire economic times, there still are people who would never put a price on beauty (in the sense they would pay anything for it).
“The winning bid for the 7.03-carat fancy vivid blue diamond was the highest price paid per carat for any gemstone at auction, Sotheby’s said after its Magnificient Jewels sale on Tuesday. It is the rarest stone to enter the international market this year and had an estimate of SFr6.8-10 million. It went to an anonymous telephone buyer after a 15-minute bidding battle between two callers.” The aforementioned publication writes of the first time ever transaction.
“David Bennett, chairman of Sotheby’s jewellery department in Europe and the Middle East, said the results showed the market’s resilience despite the economic downturn. The previous record price for a fancy vivid blue diamond was SFr8.7 million for a stone weighing 6.04 carats at a sale in Hong Kong in 2007.” SwissInfo further informs. Now that the diamond has changed hands, the current owner has also earned the right to name the stone as he or she sees fit, the same publication notes.
Going to show that, recession or no recession, there still are people who value nice things, the market for unique, valuable items keeping its foothold against all adverse winds. Back in March, for instance, Universal Music put out a very unique CD, encased in platinum and decorated with ten 2-carat diamonds. Also provided with a compilation of 18 tracks from various artists, “Woman: Sweet 10 Diamonds,” was estimated at $100,000 but, unlike the blue diamond, it failed to get customers interested the moment it was put on display.