Newly Discovered 122.52-Carat Blue Diamond Could Fetch $35M and Set a New Record

An extremely rare — and awesomely beautiful — 122.52-carat blue diamond discovered at Petra Diamonds’ famed Cullinan mine in South Africa could sell for more than $35 million and set a new record, according to gem-industry analysts.

petrablue3

Rough blue diamonds larger than 100 carats are some of the most rare and valuable items on the planet. In fact, only three or four have ever been recovered, according to Cathy Mallins, corporate communications manager at Petra Diamonds Ltd.

petrablue1

“The rarity of a blue diamond of this magnitude sets it apart as a truly significant find,” the company said in a statement.

The highest price ever paid for a rough diamond is $35.3 million. That record was accomplished in February 2010 with the sale of a 507-carat white diamond unearthed at the same Cullinan mine. Analyst Martin Potts believes Petra’s newest find can rival or surpass the $35 million mark.

petrablue2

Petra officials have sent the diamond to a lab for analysis. If the color rating comes back “fancy vivid,” the gem could “blow the roof off” the previous record, Potts told the BBC.

The Cullinan mine, which Petra has owned since 2008, has a long and storied history of producing the largest and finest-quality diamonds the world has ever known. The 3,103-carat Cullinan Diamond was discovered there in 1905.

Blue diamonds get their color from small traces of boron trapped in their carbon structure during formation.

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s