‘Cullinan Dream’ to Lead Christie’s New York Auction

RAPAPORT… The largest fancy intense blue diamond ever offered at auction is to go under the hammer at Christie’s New York next month.

The auctioneer expects the cut-cornered rectangular mixed-cut, 24.18-carat, VS2 gem named the ‘Cullinan Dream’ to fetch $23 million to $29 million, or up to $1.2 million per carat, at the sale at the Rockefeller Center on June 9. The diamond is flanked on either side by a tapered baguette-cut diamond weighing a total of 2.36 carats.

The polished diamond comes from a 122.52 carat blue rough stone that Petra Diamonds discovered at its Cullinan mine in South Africa in June 2014. Petra sold the gem into a cutting-and-polishing partnership in September 2014 for $23.5 million.

The rough blue stone was cut into four polished diamonds of which ‘Cullinan Dream’ is the heaviest. The other three polished stones weighed 7 carats, 10.30 carats and 11.30 carats. Petra will receive a further 15 percent of proceeds from the sale of the ‘Cullinan Dream.’

Another rough diamond that Petra also found at the Cullinan mine led to the creation of the 12.03-carat ‘Blue Moon,’ which sold for $48.5 million at Sotheby’s Geneva in November.

Other items on sale at the Christie’s ‘Magnificent Jewels & The Cullinan Dream’ auction in June include an oval brilliant-cut, 52.76 carat, K, VS2 diamond estimated at $1.8 million to $2.2 million, or up to $41,698 per carat.

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