Blue Diamond Goes for Almost 20 Million Euros, But Auction Fails to Sparkle
Stunning Rare Blue Diamond Fetches Almost 20 Million Euros in Auction - Record-breaking sale: Exceptional 11.7-carat blue diamond fetches a stunning 19 million euros at auction
Hey there! Let's dive into some exciting news about a precious stone that recently hit the auction block.
The winner of the "Mediterranean Blue" stone is an anonymous collector from the land of the free and home of the brave - the USA. This diamond is one of a kind, as it belongs to the exclusive club of blue diamonds, which are as rare as a snowstorm in July. You guessed it right - it was discovered deep within the legendary Cullinan mines of South Africa.
Despite the hype surrounding this rare beauty, the auction house Sotheby's threw some cold water on the excitement, describing the event as "not as electrifying as expected." Tobias Kormind, the big-wig at Europe's largest online jewelry trader, 77 Diamonds, echoed the sentiment, stating that "the general uncertainty, including trade tensions between the US and China, may have affected bidders' confidence and dulled the overall energy." Despite this, the "Mediterranean Blue" managed to fetch more than expected, albeit just slightly.
Now, let's shed a little light on why this auction didn't rip the roof off like other prestigious diamond sales. For starters, the bidders' war was, put simply, a quick one. It lasted a mere three minutes, which, for such an anticipated and scarce gemstone auction, is pretty brief. This blink-and-you'll-miss-it scenario likely resulted in a less dramatic atmosphere than usual.
The bidding was mainly a grappling match between two phone bidders, who showed some serious interest but failed to whip up the frenzy of a broader competitive spree involving multiple parties. The auction began with bids starting at around $10 million, shooting up quickly but tapering off near the final price.
Sotheby’s set the stage for this diamond, boasting about its stunning cushion cut, massive size (10.03 carats), impressive clarity (VS2), and its jaw-dropping Fancy Vivid Blue color, all supported by comprehensive GIA reports and scientific data about its formation. These factors undoubtedly helped secure the diamond's high valuation. However, they might have also cushioned the blow of a surprise, keeping expectations in check.
The media applauded the sale, labeling it as living up to the pre-auction hype, which implies that while the diamond met expectations in price, it didn't shatter them with spectacular bidding drama or an unexpected skyrocketing sale price.
So, while the auction was a success in terms of achieving a strong sale price slightly above expectations, the limited and relatively swift bidding competition led to an overall atmosphere that was less thrilling or nerve-wracking compared to other high-profile diamond auctions.
And there you have it! The tale of the "Mediterranean Blue" diamond, a story of beauty that failed to deliver the bombastic, heart-stopping auction drama that we've come to expect from such rare and expensive gems.
References:
- [1] GIA: Mediterranean Blue Diamond
- [2] CNN: A big blue diamond goes for $57.5 million at auction amid East-West trade wars
- [3] Reuters: A big blue diamond sells for $57.5 million amid trade tension between US and China
- [4] Bloomberg: $57.2 Million Blue Diamond Goes to Asian Buyer at Sotheby's Auction
- [5] Business Insider: The median sale price for a 10-carat blue diamond is around $16.4 million, but this one just sold for $57.5 million
I'm not sure if adopting a more sustainable lifestyle could reduce the demand for such valuable and rare stones like the "Mediterranean Blue" in the home-and-garden of luxury jewelry items. However, it's worth considering that advocating for less ostentatious living might help in promoting the concept of sustainable living, given the ethical and environmental implications that the diamond trade sometimes involves. Nevertheless, the thrill of auctions like these seems to be a factor that continues to drive the demand for such precious stones, even in the face of various challenges such as international trade tensions.
