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Rare, 5.3 Carat Blue Diamond Sells For Record-breaking $9.6 million [VIDEO]

Apr 29, 2013 12:29 PM EDT
This fancy, deep-blue 5.30 carat diamond sold for a world record-breaking $9.6 million at a Bonhams auction in London.
This fancy, deep-blue 5.30 carat diamond sold for a world record-breaking $9.6 million at a Bonhams auction in London.
(Photo : Bonhams)

The recent auction of an extremely rare blue diamond broke world records after selling for 6.2 million British Pounds Sterling (about $9.6 million) at a Bonhams auction in London.

The fancy deep-blue stone sold for $1.8 million per carat, making the 5.30 carat gem the most valuable blue diamond ever sold, according to Bonhams. The previous world record price per carat for a blue diamond was $1.68 million. Blue diamonds are rarely up for sale and the record-breaking stone's cut, posh Bulgari setting and near-flawless clarity certainly boosted its value. In the past decade, fewer than 30 blue diamonds of five carats or larger have been auctioned worldwide, according to Bonhams.

The stone sold for sold for £6,201,250 including premium.  

The term "fancy" is used to describe a diamond of intense color and the color "fancy deep-blue" is one of the rarest.

In a press statement, Jean Ghika, Director of Bonhams Jewelry Department for Europe said: "We are delighted with the price it has made. It was a sensational stone which charmed everyone who viewed it prior to the sale. Blue diamonds, especially those over 5.00 carats, are extremely rare to see on the market and continue to be highly sought-after. We are honored to have handled the sale of such a unique gem."

A video posted by Bonhams (below) shows the price of the diamond soaring as bids came in by telephone and from seats in the packed auditorium in a heated but short round of auctioning on April 24 at Bonhams Fine Jewelry sale in London's New Bond Street today,

The winning bid came from Graff Diamonds, an international diamond dealer headquartered on New Bond Street.

The ring, made circa 1965 and set in a Bulgari "Trombino" style, exceeded the auction house's estimates that it would fetch 1.5 million pounds.

According to Bonhams, blue diamonds are rarely seen on the market and fancy-colored diamonds are among the most valuable and sought-after in the world. The world-famous Hope Diamond is a blue diamond.

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