Blue diamond goes for $8.8 million at Geneva sale

By Stephanie Nebehay

GENEVA (Reuters Life!) - A large blue diamond sold for 9.23 million Swiss francs ($8.78 million) at a jewellery auction marked by strong prices for both coloured and white diamonds, Christie's said.

The rectangular blue stone weighing 13.39 carats, set in a ring surrounded by tiny pink diamonds, was the top lot at its semi-annual jewellery sale in Geneva on Wednesday night.

In all, 265 of the 365 lots on offer found new homes, netting 59.2 million Swiss francs ($56.33 million), a record for a Christie's various-owner jewellery sale worldwide, it said in a statement issued overnight.

"The jewellery sale saw extremely strong prices for colourless and coloured diamonds. This was an ideal way to celebrate our 40th anniversary in Switzerland," said Eric Valdieu, head of its Swiss jewellery department.

Experts at Christie's and rival Sotheby's say collectors and traders remain hungry for unique items, especially coloured diamonds or historic gems, following world-record prices set for rare polished diamonds last year.

The blue diamond, which Christie's said was the largest blue diamond graded "fancy intense" in colour ever to be put on the block, had been estimated at $6 to $8 million. Its buyer, a private collector, chose to remain anonymous.

"It is truly exceptional to find a blue diamond of this intensity weighing more than 10 carats," Valdieu told reporters at a pre-sale briefing.

A flawless heart-shaped vivid yellow diamond weighing 21.4 carats, set on a diamond neck-chain, fetched nearly 3.3 million Swiss francs ($3.14 million), in line with its estimate.