Dubai is hosting one of the world’s rarest diamonds this week. 

The 15.10 carat step-cut blue diamond, valued in excess of $48 million, is one of the largest vivid blue diamonds ever to go to auction at Sotheby’s Hong Kong in April.

It was unveiled at The Diamond Exchange at Dubai Multi Commodities Centre (DMCC), and is to be displayed at Sotheby’s Dubai gallery, Dubai International Financial Centre (DIFC) from Wednesday until Friday. 

Called the De Beers Cullinan Blue, the diamond is offered by companies De Beers and Diacore and will be auctioned in a single, stand-alone slot as part of Sotheby’s Hong Kong Luxury week. 

The two companies said only five 10-carat+ of blue diamonds have ever come to auction. Blue diamonds are among the rarest of coloured diamonds that are mostly sourced from a single mine, the Cullinan mine, in South Africa. 

Previous diamonds to be cut from the mine include the Great Star of Africa, which is 530 carats, and is currently in the Tower of London, mounted in the Imperial Sceptre of Great Britain. 

The De Beers gem has been graded Fancy Vivid Blue by the Gemological Institute of America (GIA), which is the highest colour grading, awarded to just one percent of blue diamonds submitted. 

(Reporting by Imogen Lillywhite; editing by Cleofe Maceda) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2022