5.30ct Fancy Deep Blue Diamond At Auction

Blue DiamondAn exquisite blue diamond ring will lead Bonham’s Fine Jewelry auction on April 24th. The ring dates back to circa 1965, and features a cushion-shaped, fancy deep blue of 5.30 carats set horizontally in a platinum and diamond setting. This masterpiece was crafted by the renowned Italian jeweler Bulgari, whose creations were the epitome of innovation and high-fashion in the 1960’s. It is estimated to sell for over $2.3 million.

Blue diamonds are among the most coveted stones in the world, and also among the rarest. Less than 0.3% of all mined diamonds exhibit a predominant blue hue, and of these only a small fraction holds a “fancy” color designation. A fancy blue diamond can sell anywhere from 50-100 times more than its colorless counterpart.

Any color present in diamonds is actually a result of chemical impurity – in the case of blue diamonds, their color is derived from the element boron. When boron particles are trapped in the formation of carbon crystal matrix, it can result in a beautiful blue diamond. The more boron present in the crystal structure, the more intense the blue hue will be. Diamonds are one of the few cases in which an impurity can make it more valuable!

Production of blue diamond rough is uncertain. Some years may go without a significant blue, others may have a few. Most of the intensely colored blue diamonds are found in South Africa, in particular from the Cullinan and Premier mines. Currently, the market value for intensely colored diamonds is at an all-time high and predicted to climb even further. The last few years have seen many fine quality blues and pinks at auction, selling for almost ostentatious prices – this magnificent blue will certainly be no exception.