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Octagonal Blue Diamond
World Record Diamond Price Per Carat 6.04 ct Blue Diamond
In October 2007, an octagonal (emerald cut) blue diamond sold for 61,927,500 HK Dollars, a world record price per carat for any diamond, beating the previous highest for the Moussaieff Red.

Sotheby's Hong Kong
Although Sotheby's are known best as a London auction house, they have offices or offshoots in a number of major cities thoughout the world, including Hong Kong, which it only opened in 2004.

October 8th 2007 Magnificient Jewels and Jadeite LOT 1128
This was the last lot in the sale, and certainly not the least. In fact, we presume that it was chosen to created a spectacular grand finale, which it appears to have succeeded in doing.
The following is taken from the catalogue.

Estimate 35,000,000 - 48,000,000 HKD
Lot Sold. Hammer Price with Buyer's Premium: 61,927,500 HKD
Simply set with an emerald-cut fancy vivid blue diamond weighing 6.04 carats, flanked on each side with an emerald-cut diamond, mounted in platinum, photographed unmounted.
Accompanied by two GIA reports both numbered 10838933, dated 20 August 2007 and 21 September 1999, stating that the 6.04 carat diamond is natural, Fancy Vivid Blue colour, Internally Flawless clarity; also accompanied by a classification report, stating that the diamond has been determined to be a type IIb diamond. Diamonds of this type and colour, as well as possessing a superior quality, are very rare in nature (usually less than one half of one percent) and contain small amounts of boron that can give rise to a blue or gray coloration.
From the fact that the central and main stone was fully described, while the side stones were hardly mentioned, it can be reasonably assumed that they had little effect on the price.
The estimates equate to £2.2 to £3 million, or $5.2 to $7.2 million U.S. The actual hammer price including buyer's premium equated to £3.9 or $9.3 U.S.
On a price per carat basis this works out to $5.8 to $7.8 and $10.2 million HK, for lower estimate, upper estimate, and hammer price respectively.
In sterling, this is equivalent to £367,000; £503,000; and £650,000 per carat.
In U.S. dollars, this is equivalent to $870,000; $1,200,000; and $1,500,000 per carat.
According to Reuters, "The price smashed a 20-year-old record held by the "Hancock Red" -- a red diamond, which fetched US$926,000 per carat at the time, Sotheby's said. Sotheby's said the buyer was "Moussaieff Jewellers" in London which has a reputation for acquiring extremely rare and costly gemstones. The seller was a private Asian collector".

Price & Value
While only a few of the wealthiest people in the world could afford to buy such a stone, we happen to own an emerald cut blue diamond of over 8 carats, and our asking price is less than 0.5% of the price. Put another way, the diamond above sold for over 210 times the price of our diamond.

We now have a specialised website exclusively for blue diamonds, called appropriately enough

A to Z of Diamonds Glossary
Find out all you need to know, and more, about diamonds. the Lowest Possible Price

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