The  historic diamond, The Farnese Blue,  created a flurry of interest when it was put up for auction by Sotheby’s after being owned by one family for 300 years;  but finally, it took just a few  minutes for it to be sold. The 6.16-carat pear-shaped blue diamond was sold for a price well above its estimate of US$ 3.6 – 5.2 million, and was picked up for   US$ 6.7 million.

Said to have originated from the Golconda mines in southern India, the fancy dark grey-blue diamond first came to notice when it was presented to Elisabeth Farnese, the second wife of King Philip V of Spain, as a wedding gift, in 1715. Subsequently, it passed down through four of the most important royal families in Europe.  

 
Along with the Farnese Blue, two other white diamonds also sold for higher amounts than their respective estimated prices. A 51.71-carat round diamond sold for US$ 9,251,851 (est: US$ 8.2 – 9.5 million)   and the other a 50.39-carat oval diamond sold for US$ 8,123,845 (est: US$ 7.3 – 8 million).

These two diamonds, discovered in Botswana, are considered “perfect” according to all the critical criteria against which the world’s greatest diamonds are measured, Sotheby’s said. They are D-Colour, have Flawless clarity and belong to the highly rare Type IIa  group, which accounts for merely 2% of gem diamonds, having the highest optical transparency.

The auction concluded commanding a sales value of US$ 85,629,630 for 82% of the lots which were sold. About 70 % the lots sold above high estimate.

Revealing that 650 people from 50 countries participated in the recently held “Magnificent Jewels and Noble Jewels” auction in Geneva, Sotheby’s underlined  the “increasingly global nature” of the market.

Speaking immediately after the sale, Daniela Mascetti, Deputy Chairman, Sotheby’s Jewellery Europe and Senior International Specialist, said: “The timeless appeal of diamonds was reasserted tonight in Geneva, with three exceptional stones cut centuries apart capturing the attention of international collectors. The Farnese Blue is quite simply an unforgettable diamond, and everyone who set their eyes on it was mesmerised by its extraordinary colour: the rich blue of the deepest ocean. As was evidenced by the competition between bidders this evening, the response from collectors has matched our own excitement for this diamond. We were also delighted by the results achieved by the two white diamonds over 50 carats in the sale, whose colour, cut and clarity are synonymous with 21st-century perfection.”

Pic Cap: Caroline Lang, Chairman of Switzerland auctioneering the Farnese Blue

Pic Courtesy: Sotheby’s