A 5.5-carat triangular-cut diamond known as the “Ocean Dream” has sold for $17.3 million at a Christie’s auction in Geneva, marking a record price for a fancy vivid blue-green diamond. The gem, discovered in Central Africa during the 1990s, exceeded its presale estimate of 7-10 million francs (approximately $9-13 million). The sale attracted significant interest, taking about 20 minutes to finalize, and was purchased by an unnamed private client. This price more than doubled the $8.5 million it fetched at a previous auction in 2014, and the diamond was notably featured in the Smithsonian Splendour of Diamonds Exhibition in 2003. The “Ocean Dream” weighs 9.4 grams and is set in a ring with sculpted rock crystal and pink diamonds. In contrast, a 6-carat fancy vivid blue diamond auctioned at Sotheby’s recently failed to sell despite an estimated value of up to $12.3 million.
Why It Matters
The sale of the “Ocean Dream” underscores the growing demand for rare colored diamonds, which represent a small fraction of global diamond production. The price increase reflects a trend in the luxury market, where collectors are increasingly seeking unique and high-quality gems. Historical auction data shows that colored diamonds have consistently fetched high prices, with the record being set by the 59.60-carat Pink Star, which sold for $71.2 million in 2017. The rise in prices for such diamonds indicates a robust market for rare gemstones, driven by both investment interest and the allure of their unique characteristics.
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