Following 15 minutes of frenzied bidding. a fancy vivid blue, internally flawless, cushion-shaped diamond weighing 7.03 carats brought a record price at Sotheby’s Magnificent Jewels sale in Geneva.

The price, $9.4 million, beat its pre-sale estimate of $5.8 – 8.5 million. The diamond was found from Petra Diamonds’ historic Cullinan mine.

This total represents the highest price for a fancy vivid blue diamond sold at auction and the record price per carat for any gemstone sold at auction ($1,349,752). The winning bidder, who wishes to remain anonymous, has not exercised their privilege to name the stone, Sotheby’s said.

The overall sale realized a strong total of $35 million, 76.9% by lot and 91.3% by value.

David Bennett, chairman, Europe & the Middle East, Sotheby’s International Jewellery department, said: “We are very pleased with tonight’s sale series total and strong sell-through rate, which demonstrate the continued demand for rare jewels of exceptional quality and provenance. We are particularly thrilled with the price achieved for the exceptional fancy vivid blue diamond, and its record price per carat as the highest for any gemstone sold at auction. It has been very exciting and rewarding to work so closely with Petra Diamonds and to follow the progress of this remarkable gem over the last few months and through to its auction success on the international stage this evening.”

JCK