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Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

'Blue Moon' Diamond Breaks Record at Auction

January 21, 2016 23:51

Last year, Sotheby’s auctioned an incredibly rare blue diamond up for a record setting 48.6 million Swiss francs ($48.5 million) at a Geneva auction, including fees (43.2 million francs, excluding fees).
   
Although, listed as the "Blue Moon" diamond in reference to its rarity (i.e. "once in a blue moon) the gorgeous 12.03 ring set diamond was renamed to "The Blue Moon of Josephine" by its new owner - an anonymous collector from Hong Kong. At a Christie's auction in Geneva the day prior, an unnamed Hong Kong private collector purchased a pink diamond ring for $28.5 million and christened it "Sweet Josephine." Later reports confirmed the purchaser of both gems was billionaire real estate investor Joseph Lau, who bought them for his 7-year-old daughter Josephine.

The diamond was the end product of a year's worth of study and labor. Sotheby's says that the Blue Moon was originally 29.6 carats when it was recovered in 2014 from South Africa's Cullinan mine - which is famous for originating diamonds of record setting size and clarity. Gemology experts took five months for an "intense study" of the original diamond, and a master cutter took another three months to craft, cut and polish the stone. At the time of sale, the cushion-cut diamond had a clarity grade of IF (internally flawless) and a color grade of "Fancy Vivid" by the GIA. 

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