5.16ct rare blue diamond expected to fetch $5.8million

A jewelry auction featuring rare gems can always expect to have some record breaking sales. Sotheby’s too, can count on creating records at its Hong Kong jewels and jadeite 2010 spring sale which is scheduled to take place on April 7. Ensuring success for the sale, is the rare pear-shaped internally flawless Fancy Vivid Blue 5.16ct diamond being put up for sale by a private collector. The star lot of the sale, this stone is the first diamond of its kind to appear at an auction from the collection that De Beers presented in 2000 to celebrate the millennium. The diamond is one of twelve gems from DeBeers exclusive collection that took decades to assemble.

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Blue diamonds are among the rarest of all gems and owe their natural blue color to the chemical element boron’s presence during the stone’s formation. China, with its growing diamond market, is the ideal location to hold this auction.
The rare blue diamond is expected to fetch $5.8 million. But like the case with most auctions, I am sure this stone will fetch a price way over its estimated amount.
[Telegraph]

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