Sotheby’s auction house announced the sale of a rare blue diamond, known as the “Jewel of the Mediterranean,” for $21.5 million during an auction held in Geneva.
Weighing 10.3 carats, the diamond had been valued at $20 million. Bidding began at nine million Swiss francs (approximately $10.8 million) and quickly escalated before being acquired by an anonymous American collector for 17.9 million Swiss francs ($21.5 million), according to news agencies.
Sotheby’s revealed that the gemstone was unearthed in 2024 from the Cullinan mines in South Africa, a region renowned for producing some of the world’s most exceptional diamonds. It is regarded as one of the rarest blue diamonds in existence.
Before its auction debut in Geneva, the diamond was showcased at Sotheby’s Abu Dhabi alongside seven other high-value diamonds and gemstones, collectively worth over $100 million.
Sotheby’s highlighted that only 0.3% of diamonds naturally possess a blue hue, and an even smaller fraction exhibit the rare “Fancy Vivid Blue” coloration, making this gem exceptionally unique.
