Rare blue diamond sold for $57.5 million at Sotheby's auction in Hong Kong

Sotheby's announced that the world's largest blue diamond, The De Beers Blue, was sold for $57.5 million. The massive 15.10-carat step-cut gem was sold at Sotheby's in Hong Kong after an eight minute bidding war among four hopeful buyers.The Gemological Institute of America (GIA) categorised the jewel as "fancy vivid blue" — the top color grading, which has been awarded to no more than 1% of blue diamonds submitted to the organization.Describing the diamond as "exceptionally rare," Sotheby's statement added that only five gems over 10 carats have ever appeared at auction. None have ever been over 15 carats, "making the appearance of this flawless gem a landmark event in itself."As per CNN, with a final price of $57,471,960, The De Beers Cullinan Blue just narrowly missed setting the record for the most expensive blue diamond ever to sell at auction.Also read: Rare blue diamond expected to fetch $48 million at auction: All about this precious gemPetra Diamonds discovered the 39.35-carat rough in April 2021 at its Cullinan mine in South Africa. In July, De Beers and Diacore bought the stone for $40.2 million, and Diacore manufactured the piece into the final polished.The diamond is the "largest internally flawless step cut vivid blue diamond" ever graded by the Gemological Institute of America (GIA), Sotheby's said in a statement.The sale will mark the first time a blue diamond of more than 15 carats has ever gone under the hammer, the press release added.It was cut from a rough stone discovered in discovered at the Cullinan mine in South Africa in April 2021.The diamond is bigger than the Oppenheimer Blue, a 14.62 carat stone that set the world record price for a blue diamond at auction in May 2016 when it sold for $57.5 million.Earlier in February, Sotheby's in London sold the Enigma -- the largest cut diamond ever to come to auction at 555.55 carats -- for £3.16 million ($4.3 million).With inputs from agenciesRead all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.