At the Sotheby’s Hong Kong Jewels and Jadeite Spring Sale on April 7, a rare blue diamond that was once part of the De Beers Millennium Collection is being sold.  The 5.16 carat, pear-shaped, Internally Flawless Vivid Blue diamond was originally presented by diamond giant De Beers to celebrate the Millennium.  Bidding is expected to reach close to $6 million. 

The gem, set in platinum and flanked by white trillion-cut diamonds, was part of a 12-piece collection that De Beers took decades to put together.  Blue diamonds are the rarest of all gems, and are created when the diamond forms in the presence of the chemical element boron.  According to a Sotheby’s spokesperson, “The diamond’s high and even saturation of brilliant sky-blue colo9r, internally flawless clarity and classic pear shape will undoubtedly spur intense bidding amongst discerning collectors from around the world.” 

The last time a blue diamond of this quality went up for sale was in May of 2009.  A collector from Hong Kong paid $9.4 million for a 7.03 carat, cushion-cut, internally flawless fancy vivid blue diamond, breaking the world record for price per carat of any gemstone.  Large diamonds have remained untouched by the worldwide recession.  Collectors continue to scoop them up as soon as they become available, paying whatever they need to, since their value does not decline.  Because of this diamond’s extremely rare qualities, it is expected meet—if not break—the previous record.

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