‘Mediterranean Blue Diamond’ Expected to Command $20 Million at Auction

A stunning 10-carat blue diamond, nicknamed the "Mediterranean Blue Diamond," is set to go under the hammer later this month, with Sotheby’s in Geneva predicting it could fetch around $20 million.

The cushion-cut gem, mined in South Africa, boasts a rare and vibrant “fancy vivid blue” color, making it one of the most coveted stones in the world, Sotheby’s revealed during a presentation to the press on Thursday.

“The market for colored diamonds continues to grow stronger,” said Jessica Wyndham of Sotheby’s, emphasizing the increasing demand for exceptional gemstones.

This sale follows a record-breaking 2016 auction in Geneva, where a vivid blue diamond sold for 56.8 million Swiss francs (approximately $68.7 million) at Christie’s.

The Mediterranean Blue Diamond will be part of Sotheby’s high jewellery collection, showcased alongside other colored gems ahead of the live auction scheduled for May 13 at Geneva’s Mandarin Oriental Hotel.