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The 7.03-carat Star of Josephine, which also was produced at the Cullinan mine, was sold in 2009 for $9.5 million, the highest price ever received at auction for a fancy vivid blue diamond.



  Blue diamond sold at tender in South Africa for $300,000 per carat


January 9, 2012


A 4.8-carat diamond from the Cullinan mine in South Africa was sold at tender in December for $1.45 million by Petra Diamonds, the mine's owner. At more than $300,000 per carat it was, according to the company, the highest price per carat for a rough stone sold by Petra to date.

The Cullinan mine, which previous was known as Premier, is one of the world's most celebrated diamond mines, having earned its place in history in 1905 with the discovery of the Cullinan diamond, which at 3,106 carats was the largest rough gem diamond ever found.

Petra took over the mine from De Beers in July 2008, and since then has managed to extract several large stones, including the 507-carat white diamond that Petra named the Cullinan Heritage. It sold for $35.3 million, the highest price on record for a rough diamond.

Since Petra took over at Cullinan, the mine has yielded several notable blue diamonds, including the most recent 4.8-carat stone, but also a 39-carat diamond which sold for $8.8 million and a 26-carat diamond which Petra cut into a 7.03-carat polished stone .

The 7.03-carat polished blue diamond broke records in 2009 at a Sotheby's Magnificent Jewels auction in Geneva. The rare, internally flawless stone fetched $9,488,754, making it the most expensive fancy vivid blue diamond sold at an auction to date. Its new owner Joseph Lau Luen-Hung, a renowned collector and connoisseur from Hong Kong, named the cushion-shaped diamond the "Star of Josephine."

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