Friday, October 22, 2010

Blue Diamond fetches 16 times 1972 Price

Ring by Bulgari with the vivid blue diamond of 10.95 carats

At Christie's New York auction on 20 October 2010, a diamond ring featuring a triangular cut and unusually beautiful and vivid blue diamond of 10.95 carats was bought for 15.7 million US Dollars. The ring by Bulgari had been sold at its Rome boutique in 1972 for US$ 1 million.

The chief of Christie's Americas Jewelry division, Rahul Kadakia, said that even after adjustments for inflation, the price of the diamond had tripled in value, "demonstrating the incredible resilience of diamonds in today's volatile economic environment and the true lasting value of fine jewelry."

The ring was sold to a private Asian collectior. During an intense five minute bidding battle, the price of the ring rose from US$ 8 million to US$ 15,762,500.

[RAPAPORT Diamond Report,, "Bulgari Blue Fetches $16M at Christie's New York", by Deena Taylor. Accessed 22.10.10]