Columns

‘Bleu Royal’ Diamond: 17.61-Carat Gem Could Fetch $50MM

It’s up for sale Nov. 7 at Christie’s Geneva.

Published

2 weeks ago

October 4, 2023

Howard Cohen

‘Bleu Royal’ Diamond: 17.61-Carat Gem Could Fetch $50MM

THE LARGEST INTERNALLY flawless fancy vivid blue diamond ever to appear at auction is set to headline Christie’s Magnificent Jewels sale in Geneva on November 7. Weighing an astounding 17.61 carats, the perfectly symmetrical pear-shaped “Bleu Royal” carries a presale estimate of $35 million to $50 million.

If it achieves the high estimate, the “Bleu Royal” will take its place just behind the record-setting 14.62-carat “Oppenheimer Blue” (Christie’s 2016, $57.5 million) and the 15.10-carat “De Beers Blue” (Sotheby’s 2022, $57.47 million).

Christie’s noted that Bleu Royal has been part of an important private collection for the past 50 years and that this is the first time the stone has been offered at auction.

“This is a true miracle of nature,” commended Rahul Kadakia, International Head of Christie’s Jewels. “Over our 257-year history, Christie’s has had the privilege of offering the world’s rarest gems at auction, and Bleu Royal continues this tradition. We are proud to offer collectors the opportunity to own a diamond fit for royalty.”

Blue diamonds larger than 10 carats are exceptionally rare. It is believed that only five have ever come to auction and two will be offered this fall: The “Bleu Royal” and the 11.28-carat “Infinite Blue,” which will be the subject of a single-lot event at Sotheby’s Hong Kong on October 5. The cut-cornered rectangular mixed-cut fancy vivid blue stunner has a pre-sale estimate of $26 million to $37 million.

Christie’s explained that, due to collector demand and an increasingly limited supply, prices for top-quality colored diamonds have increased exponentially in recent years.

Blue diamonds are considered one of the rarest colors of all diamonds. A fabulous fluke of nature, a blue diamond owes its color to the random presence of boron within the diamond’s carbon structure. The Infinite Blue is categorized as a Type IIb diamond, a quality level that includes less than 0.5% of all diamonds.

Scientists believe that blue diamonds form about 400 miles below the surface, four times deeper than about 99 percent of all other diamonds.

“Every One of Them Said, ‘Go with Wilkerson.’”

There are times when decisions must be made. For Joe Cheslock, owner of Sycamore Jewelers in Midlothian, VA for the past 25 years, the time had come. He had to decide whether to renew a five-year lease. Instead, he called Wilkerson to handle his store’s going-out-of-business sale. Why did he select Wilkerson? “I talked to retailers from around the country to get their advice. Every one of them said, ‘Go with Wilkerson.’” And he’s glad he did. Cheslock says he was amazed by Wilkerson’s organization and attention to detail. Of course, as a store owner, it was hard to let others do the heavy lifting, but he’s glad he did. “Wilkerson did everything they said they would and more. They follow through and they’re respected in the industry. I now see why.”