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Large Blue Diamond Found

Petra diamonds, who own the famous Cullinan mine in South Africa, have announced that they have found a 122.5 carat blue diamond there. 109 years ago the mine produced the largest piece of gem quality diamond ever discovered, the Cullinan stone. To read more about this discovery, read our blog The Cullinan II Diamond.

Further analysis

This latest stone will now undergo “further analysis to assess its potential value,” the group said. When the assessment has been completed, “Petra will be in a position to evaluate its optimal route to market”. Petra did stress that this would not happen before its current financial year ends on 30th June, however.

Record breaking blue

Recently a 13.22 carat flawless blue diamond sold at Christie’s, Geneva for £14 million. To read more about this and to find out what turns diamonds blue, see our blog Flawless Blue Diamond Sells at Auction. Although much of the 122.5 carats of this latest stone will be lost in cutting, the stone may still tip the scales heavier than this record breaking stone. Much will also depend on other factors such as colour and clarity, but we may well see a new record set. Watch this space for more news!

Update - the diamond sold in October 2014 for $27.6 million.

If you have any blue diamonds that you would like to sell, please contact Simon Rufus, gemmologist at Grand Auctions, Folkestone, Kent.