“Oppenheimer Blue” Diamond Hammered for $57.5-M at Christie’s

“Oppenheimer Blue” Diamond Hammered for $57.5-M at Christie’s

A 14.6-carat blue diamond auctioned at Christie’s in Geneva for $57.5-M, including fees, becoming the most expensive diamond ever auctioned.

Christie’s amended the final sale price late Wednesday night.

The stone, called the “Oppenheimer Blue,” followed a record-high jewelry sale by Sotheby’s (NYSE:BID) Tuesday, which totaled $175-M, the highest total ever for a jewelry sale. The sales show that despite the volatile financial markets and slower art market, rare diamonds have retained their demand among gemstone collectors.

The Sotheby’s sale included the $31.6-M sale of the “Unique Pink,” a 15.4-carat fancy vivid pink stone.

The “Oppenheimer Blue” is among the most prized in the diamond world.

Blue Diamonds are the rarest and most sought-after color. And the Oppenheimer Blue was owned by Philip Oppenheimer, the late Chairman of the De Beers diamond-marketing cartel.

Only 10% of all blue diamonds discovered are larger than 1 carat, making the Oppenheimer Blue a highly prized creation of nature. It also has the highest color rating of “vivid.”

The 12.03-carat “Blue Moon Diamond,” sold by Sotheby’s (NYSE:BID) in November for $48.5-M, previously held the title of the priciest diamond sold at auction.

Stay tuned…