Bleu Royal diamond set to dazzle in Geneva jewels sale

The exceptionally rare Bleu Royal gem is set to become one of the most expensive diamonds ever sold by auctioneers Christie's when it goes under the hammer on Tuesday.The Bleu Royal is the star lot in a series of sales in Geneva this month which feature items from movie history including pearls worn by Audrey Hepburn and Marlon Brando's self-engraved watch.

Weighing 17.61 carats, the Bleu Royal is the largest internally flawless fancy vivid blue gem ever to appear for sale in auction history.
The stone is expected to fetch $35 million to $50 million in Christie's Magnificent Jewels auction.

"It's going to be one of the top 10 jewels sold at Christie's ever, in terms of value," Rahul Kadakia, Christie's international head of jewellery, told AFP.
The diamond, set in a ring, has been in a private collection for 50 years.

Kadakia said lots of modern coloured diamonds had a modified cut to enhance the colour. In the Bleu Royal's case, "the rough material itself was so rich that they were able to cut it into a classic brilliant faceting style," he said."It checks all the boxes -- really top of its class."

Fancy vivid blue diamonds weighing more than 10 carats are exceptionally rare. Since Christie's was founded in 1766, only three such stones have appeared for sale -- all in the last 13 years. The Bulgari Blue sold for nearly $15.8 million in 2010; the Winston Blue fetched $23.8 million in 2014, and the Oppenheimer Blue realised $57.5 million in 2016.

"This level of the jewellery market has turned into the same sort of appreciation as art," said Kadakia.
"The market saw there's a great scarcity of these special stones and they started making prices in the same manner as great pictures do."