A $25 million blue diamond. This is what an anonymous buyer paid over the phone for the Bulgari Laguna Blu, auctioned by Sotheby’s in Geneva. The sale of Magnificent Jewels totaled $85 million, the highest value since May 2018 at the Geneva Jewelery Sales. The 11.16-carat fancy-vivid blue diamond is now the largest blue diamond in a Bulgari jewel and the most valuable Bulgari gem ever offered for sale.
Created in 1970 by Bulgari as a ring, when Bulgari was emerging as the most influential and innovative Italian high jewelery house, diamond is a rarity: it is an 11.16-carat Fancy Vivid blue, among the rarest gems in the world, it is a Bulgari signed jewel, and is unmodified, meaning that its current cut, produced in 1970, could be further enhanced by modern cutting methods to unleash its full potential as a gem.
It has been a privilege to witness the glamorous and exciting journey of the Bulgari Blue Lagoon over the past few months, knowing it was first created in 1970, up until its most recent appearance at the Met Gala where it dazzled on the red carpet, set in a Bulgari custom made necklace worn by Priyanka Chopra Jones. So, it is a special moment to see the journey of this extraordinary gem take yet another new turn, this evening in our auction room, into the hands of its first new owner in over 50 years. The Blue Lagoon sale surpasses the outstanding performance of our Magnificent Jewels and Noble Jewels sale which saw exceptional colored gemstones, particularly emeralds and yellow diamonds, surpass their high estimates, so spectacularly. There is no doubt that the Fine jewelry of the highest quality can still fetch sky-high prices.
Olivier Wagner, Head of Jewellery, Sotheby’s Geneva
Sotheby’s Geneva’s auction saw over half (53.4%) of all lots sold above the high estimate and virtually all lots sold fetched prices within or above the estimates (97%).
The Bulgari Laguna Blu was auctioned last in the second session of Magnificent Jewels and Noble Jewels, following a series of spectacular sales of designer jewelery and exceptional gemstones. After a four-minute bidding battle between three telephone bidders and one bidder in the room, he finally found a buyer over the phone.
Colored gemstones, and especially colored designer jewelry, had a stellar night with nearly a quarter of all lots selling above already high estimates, led by sales of yellow ruby, emerald, sapphire and diamond jewelry and rose. For example, a Fancy Intense Pink and Fancy Deep Grayish Diamond ring was sold for $11.7 million, purchased by Diacore. The same company was awarded another Fancy Vivid Yellow Diamond ring, for 1.3 million.