Petra’s Rough Blue Diamond was Sold for $16.9 million

Colored diamonds are so rare that once they are sold (like with the “Trombino” ring) or mined they are widely talked about. But while diamonds jewelry are mostly in the center of customers’ attention, rough diamonds are also on sale. This time this a blue ‘big boy’ mined at the iconic already Cullinan mined famous by its blue diamonds:

A rough blue diamond weighing 25.5 carats that was extracted at the Cullinan mine in South Africa in April has been sold by the mine’s owner, Petra Diamonds, for $16.9 million or $663,144 per carat.

“The process was highly competitive in terms of bids received, due to the incredible rarity of a blue stone of such size and quality,” according to Johan Dippenaar, CEO of Petra. “This result further serves to highlight the Cullinan mine’s unique position as the world’s most important source of blue diamonds.”

Among the blue diamonds mined at Cullinan over the past five years was a 26.6-carat rough stone that yielded a fancy vivid blue, internally flawless 7-carat polished diamond, which was sold at a Sotheby’s auction in May 2009 for $9.49 million, or $1.35 million per carat. Named the named the “Star of Josephine” by its new owner, it was at the time the highest price per carat for any gemstone sold at public auction.

Cullinan, which previously was known as the Premier mine, was bought by a consortium led by Petra from De Beers in November 2007. Over its more than 100 years of production it has provided some of the largest and most illustrious diamonds discovered, including the 3,106.75-carat Cullinan Diamond, which was mined in 1905 and since has held the record as the largest rough diamond ever mined.

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