【Geneva, Swit】Rare Blue Diamond Sells for $21.5 Million at Auction

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Editor’s Note

A remarkable 10.03-carat blue diamond, named the “Mediterranean Blue,” has sold for $21.5 million at a Sotheby’s auction in Geneva.

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Record Sale in Geneva

A large 10.03-carat blue diamond was sold at auction for $21.5 million (€19.1 million) in Geneva, according to the auction house Sotheby’s.

The “Mediterranean Blue”

The “Mediterranean Blue,” as it is named, which had an estimated value of $20 million, “generated enormous interest” during the sale, Sotheby’s stated in a press release issued on Tuesday evening.

Market Analysis

However, for Tobias Kormind, Managing Director of 77 Diamonds, Europe’s largest online jeweler, the sale was “less impressive” than expected, he noted in a statement.

“The diamond exceeded its $20 million estimate, which suggests significant interest. But the general uncertainty, including trade tensions between the United States and China, may have dampened bidder confidence,” he observed.
The Bidding War

The bidding battle between two participants started at 9 million Swiss francs and lasted “nearly three minutes.”

The Buyer

An American private collector won the precious stone, the auction house specified, without revealing her identity.

Auction House Statement
“This is undoubtedly the star lot of the season and it ranks among the finest blue diamonds we have sold,” said Quig Bruning, Head of Sotheby’s Jewelry Department for North America, Europe, and the Middle East, after the sale.
Origin and Rarity

The diamond was recently discovered in the legendary Cullinan mine in South Africa. It was then unveiled in early April in Abu Dhabi, the capital of the United Arab Emirates.

“Blue diamonds are at the pinnacle of the rarity pyramid,” Mr. Bruning emphasized in the capital of the wealthy oil-rich emirate.

According to Sotheby’s, “finding a blue diamond is an incredibly rare event.”

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⏰ Published on: June 13, 2025