$48 Million Rare Blue Diamond in Dubai

Rare Blue Diamond valued at more than $48 million goes on display at Sotheby's Dubai.

One of the rarest diamonds in the world is going on display in Dubai on Wednesday until Saturday. Called the The De Beers Cullinan Blue, this 15.10-carat fancy vivid blue stone is not only rare, but it will also be the largest blue diamond to go to auction when it is sold at Sotheby’s Hong Kong in April.

Millions of years in the making, the rough stone, weighing almost 40 carats, was unearthed in April 2021 at the Cullinan mine in South Africa, famous for producing exceptional stones, including the 530-carat colourless Great Star of Africa that now sits in the Queen of England's sceptre.

Purchased by De Beers and Diacore for an estimated $40 million, the master cutters of Diacore spent almost a year cutting and polishing the stone to create an internally flawless diamond.

“Only five other vivid blue diamonds over 10 carats have ever come to auction, and none over 15 carats,” said Sophie Stevens, deputy director of Sotheby’s Dubai, at the grand unveiling on Wednesday.

“It is not only the size and colour that makes this stone so unique, it is the step cut, an extraordinarily difficult cut to master. It is the most complicated, and only the best of the best can perfect it. The master cutter who has worked this stone has managed not only this very difficult cut, but has maintained the unique colour and clarity."