£20 Million to Be Raised by Cullinan Dream Blue Diamond at Auction

On June 9, in New York, there will be an auction for the Cullinan Dream. A blue diamond of 24.18 carat may elevate to $29 m or £20m, when it is auctioned in New York, at Christie’s in the coming month.

£20 Million to Be Raised by Cullinan Dream Blue Diamond at Auction
Cullinan Dream Blue Diamond

The Cullinan Dream is among the globe’s hugest ‘elegant deep’ blue diamond to have ever been presented for auction. Its value has been placed between $23 m to $29m.

The diamond of 122.52 carat was discovered in 2014. The precious stone is the attraction of the 9 June auction at Christie’s Magnificent Jewels. It created a section of a diamond which is bigger, of 122.52 carat found by Petra Diamonds in South Africa, at its Cullinan mine in June 2014. As a result, the rock was traded for $23.5m. It was split into four blue diamonds (polished). Among these, the hugest was the Cullinan Dream.

In the Cullinan mine, a couple of diamonds that were most popular was presented in Crown Jewels. It is the globe’s hugest source of blue diamonds that are very rare and on high demand. 

The bluish color is because of amounts of boron locked in the structure of the diamonds in the course of being formed. The shade ranges from ‘faint’ to ‘elegant bright.’ In spite of how rare they are, numerous sales in blue diamond have taken place in the last few years. 

The previous year, a billionaire in Hong Kong used £32m on a smooth ‘Blue Moon’ diamond. He changed its name to ‘Josephine’ to pay tribute to his daughter of seven years. The ‘Oppenheimer Blue,’ at the beginning of this month, was traded for £40m, creating another record for a diamond traded at auction. Petra Diamonds is going to get 15% of takings from the auction.

The firm presently has about 3% of the diamond market in the world. Its strategy concerns assuming control of mines whose previous owners were De Beers. In 2008, it purchased the Cullinan mine and is presently planning to prolong its life and excavate further beneath the ground.