Sotheby’s unveils 10-carat blue diamond expected to fetch $20 million at Geneva auction

GENEVA, May 9 (Saudi Arabia Breaking News) – A rare 10-carat blue diamond valued at up to $20 million was unveiled by Sotheby’s in Geneva on Thursday ahead of its upcoming high jewelry auction.

The cushion-shaped gemstone, named the “Mediterranean Blue Diamond,” was mined in South Africa and classified as fancy vivid blue — the highest grading for colored diamonds, according to Sotheby’s.

“The market for coloured diamonds continues to go from strength to strength,” said Jessica Wyndham of Sotheby’s, noting that the diamond could achieve a sale price near $20 million.

Sotheby’s high jewelry collection, featuring a range of colored gemstones, was previewed for journalists in Geneva ahead of a live auction scheduled for May 13 at the Mandarin Oriental Hotel.

In 2016, another fancy vivid blue diamond fetched CHF 56.8 million ($68.7 million) at a Christie’s auction in Geneva, setting a record at the time.