A notable blue diamond might have just disappointed at auction for Sotheby’s, but a piece of blue rough just scored a nice price for miner Gem Diamonds.
The rare 12.47 ct. blue diamond, discovered at the company’s Letseng mine in Lesotho, fetched $7.5 million, or $603,047 per carat—a record for the mine, according to a statement from Gem Diamonds.
Another notable recent find at the mine—an 82 ct. white diamond—fetched $4.8 million, or $59,173 per carat, the company said.
The announcement comes days after the internally flawless Premier Blue, a 7.59 ct. fancy vivid blue round that carried a $19 million estimate, failed to sell at Sotheby’s Hong Kong Magnificent Jewels and Jadeite auction on Oct. 7. According to the Associated Press, the bids only reached $16.1 million, below its reserve.