It’s called The Mediterranean Blue, but it’s not the sea. It’s an extremely rare and exceptional Fancy Vivid Blue diamond weighing 10.03 carats, which Sotheby’s is auctioning on May 13 in Geneva. In addition to receiving the highest color grading possible for a blue diamond from the Gemological Institute of America, The Mediterranean Blue was found to be a Type IIb, a classification that represents less than 0.5% of all diamonds. The gem’s exquisite cushion shape, Sotheby’s explains, accentuates its exceptional saturation, placing it in a rarefied category even among the world’s most beautiful diamonds. Anyone who wants to secure this gemological rarity should be prepared to dent their bank account to the tune of around $20 million, according to the estimate. But there’s no guarantee that the price will rise further during the auction.
The diamond, which was mined at the Cullinan mine in South Africa, will be unveiled in a special exhibition hosted by the Bassam Freiha Art Foundation, a non-profit institution in Abu Dhabi’s Saadiyat Island Cultural District. Following this unveiling, it will be exhibited in Taiwan, Hong Kong and New York before its exhibition and sale in Geneva.
The Mediterranean Blue represents one of the rarest gems in nature. Every vivid blue diamond is a discovery worth celebrating, but one as captivating as this one, especially at over 10 carats, is a noteworthy event. The Mediterranean Blue’s impressive size, captivating cushion cut and ocean blue color put it in the rare company of some of the most important blue diamonds to come to market in recent years. We are also thrilled to announce this sale in the stunning confines of the Bassam Freiha Art Foundation, whose architectural beauty is a perfect match for such a rare gem.
Quig Bruning, Sotheby’s Head of Jewelry, Americas & Emea
The 31.94-carat rough diamond that gave rise to the Mediterranean Blue was studied for over a year after its discovery in South Africa in 2023. After a meticulous six-month planning and cutting process, the Mediterranean Blue was fashioned into a cushion-modified brilliant, honoring the gem’s status as both a timeless relic and a contemporary masterpiece. The shape lends a soft, refined appearance, while the carefully placed triangular and kite-shaped facets characteristic of the brilliant cut reflect the light to create the captivating sparkle that brings this diamond to life.
Like its namesake, the Mediterranean Blue is a symbol of nature’s eternal wonders. Its physical beauty, enhanced by the skill of a master cutter, is mesmerizing, as is its rarely seen blue color; Only 0.3% of diamonds exhibit a color that would be described as predominantly blue among all diamonds submitted to GIA each year, and of those, only a small number are Fancy Vivid, weighing 10 carats or more. The attributes of the Mediterranean Blue, which weighs 10.03 carats in the most coveted fancy color range, are absolutely exemplary for a diamond.
Gemological Institute of America
