Christie's auctions blue diamond, expects $39 million

AP News
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Posted: May 18, 2016 9:36 AM
Christie's auctions blue diamond, expects $39 million

GENEVA (AP) — Christie's is auctioning a fancy vivid blue diamond known as the "Oppenheimer Blue" that's estimated to fetch between 38 million and 45 million Swiss francs (about $39-46 million).

Wednesday's sale of the 14.62-carat stone, billed as the largest Vivid Blue diamond ever to go under the hammer, will round out a two-day run of big-ticket jewelry auctions in Geneva. The rectangular-cut diamond has been set in a ring and flanked by two smaller trapeze-shaped diamonds.

The diamond got its name from the late Sir Philip Oppenheimer, who long oversaw De Beers mining.

Rival Sotheby's on Tuesday sold the "Unique Pink" diamond for 30.8 million Swiss francs ($31.4 million) to an unidentified buyer from Asia in an auction that reaped more than $175 million in total.