The 10.03-carat fancy vivid blue gem dazzles collectors in Geneva, highlighting the soaring demand for ultra-rare colored diamonds worldwide.
In a remarkable event that captivated the global gem community, the “Mediterranean Blue” diamond, a 10.03-carat fancy vivid blue gemstone, was sold for $21.5 million at Sotheby’s High Jewelry auction in Geneva on May 13, 2025. This sale not only surpassed its pre-auction estimate of $20 million but also underscored the enduring allure and value of rare colored diamonds in the luxury market. US News
The Mediterranean Blue diamond is distinguished by its mesmerizing oceanic hue and exceptional clarity. Classified as a Type IIb diamond, it belongs to a rare category that comprises less than 0.5% of all diamonds. Its “fancy vivid blue” color grade, the highest awarded by the Gemological Institute of America (GIA), further accentuates its uniqueness.
The diamond was meticulously cut from a 31.94-carat rough stone discovered in 2023 at South Africa’s renowned Cullinan mine, a source famed for producing some of the world’s most significant blue diamonds.
Prior to the auction, the Mediterranean Blue embarked on an international exhibition tour, captivating audiences in Abu Dhabi, Taipei, Hong Kong, and New York. In Abu Dhabi, it headlined a Sotheby’s exhibition featuring eight extraordinary diamonds collectively valued at over $100 million.
Quig Bruning, Sotheby’s head of jewels for North America, Europe, and the Middle East, noted the Gulf region’s strong interest in rare diamonds, emphasizing the strategic importance of showcasing such gems in markets with discerning collectors.
The auction, held at Geneva’s Mandarin Oriental Hotel, witnessed intense bidding for the Mediterranean Blue. Starting at nine million Swiss francs ($10.8 million), the competition escalated rapidly, culminating in a final sale price of 17.9 million francs ($21.5 million). The winning bid came from an anonymous private collector based in the United States. Gulf News+4eNCA+4Dai
This sale was the highlight of Sotheby’s High Jewelry auction, which featured 93 lots and achieved a total of 42 million Swiss francs ($50 million), with a 99% sell-through rate by value.
The sale of the Mediterranean Blue diamond reflects the robust demand for colored diamonds, particularly those of exceptional quality and rarity. Jessica Wyndham, head of high jewelry sales at Sotheby’s Geneva, remarked on the growing strength of the colored diamond market, attributing it to collectors’ pursuit of unique and investment-grade gemstones.
However, some industry experts noted that broader economic uncertainties, including global trade tensions, may have tempered the auction’s atmosphere. Tobias Kormind, director of 77 Diamonds, Europe’s largest online jeweler, commented that while the sale was significant, it was “less impressive” than anticipated, suggesting that external factors may have influenced bidder confidence.
The Mediterranean Blue joins an elite group of blue diamonds that have achieved remarkable prices at auction. Notably, the “Blue Moon of Josephine,” a 12.03-carat fancy vivid blue diamond, was sold for $48.4 million in 2015, setting a record for the highest price per carat for any diamond.
Similarly, the “Oppenheimer Blue,” a 14.62-carat fancy vivid blue diamond, fetched $50.6 million in 2016, becoming one of the most expensive jewels ever sold at auction.
While the Mediterranean Blue’s sale price is lower than these record-holders, its per-carat value and the intense interest it garnered underscore the continued desirability of high-quality blue diamonds.
The successful sale of the Mediterranean Blue diamond at Sotheby’s Geneva auction highlights the enduring fascination and investment potential of rare colored diamonds. Its exceptional characteristics, combined with a strategic global exhibition and competitive bidding, culminated in a noteworthy event in the world of high jewelry. As collectors continue to seek out unique and valuable gemstones, the Mediterranean Blue stands as a testament to the timeless allure of nature’s most exquisite creations.
