History was made late last week as “The Cullinan Dream” – a 24.18-carat intense blue diamond – was sold at Christie’s Magnificent Jewels auction in New York for $25.4 million, thus becoming the most expensive gem of its kind ever sold at auction.
According to mining.com, “The Cullinan Dream” was cut from a 122.52-carat rock stone at Petra Diamond’s Cullinan mine in South Africa in 2014, and is the largest of four blue stones made from the original. In November 2015, Petra sold another remarkable diamond – a 7.03-carat blue dubbed “The Blue Moon of Josephine”. It raked in a record-breaking $1.35 million per carat.
What makes “The Cullinan Dream” so rare is its classification – it was classified by the GIA as a Type IIb diamond – a classification that accounts for less than one-half of 1% of all diamonds found in nature.
The Cullinan mine is famous for the discovery of the Cullinan diamond – a huge 3,106 carat stone – the largest ever found. It was later cut into two stones, and is now the property of the British Crown Jewels.