Editor’s Note
A remarkable 42-carat blue diamond has been discovered at South Africa’s famed Cullinan Mine, with an estimated auction value of around $40 million. This find underscores the exceptional rarity and enduring allure of these precious gems.
A rare blue diamond weighing almost 42 carats has been unearthed in South Africa’s historic Cullinan Mine, with industry experts suggesting it could fetch in the region of $40 million at auction.
Petra Diamonds, which operates the site about 20 miles east of Pretoria, described the find as a
The gem belongs to the ultra-rare type IIb category, accounting for less than 0.1 per cent of natural diamonds. Their distinctive
, and they form at extreme depths before volcanic activity brings them closer to the surface.
The company said
Johannesburg diamond dealer Gregory Katz, speaking to News24, said the latest find could command between $30 million and $40 million once final cutting and polishing decisions are made.
He explained that cutters will try to maximise the finished size, but
Katz added, underlining the rarity and potential market value of such stones.
The Cullinan Mine holds a special place in gem lore. It was the source of the legendary Cullinan Diamond, discovered in 1905, the largest gem-quality rough diamond ever found. That historic stone was cut into nine major gems, several of which are now part of the British Crown Jewels.
The announcement comes at a challenging time for the diamond industry, as
The latest discovery is likely to draw renewed interest from collectors and investors alike, particularly in African and global luxury markets. Petra Diamonds has not yet confirmed when the stone will go to market, but industry watchers will be closely tracking developments.