Petra Diamonds has announced that a blue diamond produced from the Cullinan diamond mine has sold for $9,488,754 million or $1,349,752 per carat. This constitutes a new record price per carat for any gemstone sold at an auction. It is also the highest price for a fancy vivid blue diamond sold at auction.

The fancy vivid blue, internally flawless, cushion-shaped diamond, which weighs 7.03 carats, was sold last night as the centerpiece of Sotheby’s Magnificent Jewels auction in Geneva.

This sales price surpassed the previous world record price per carat ever achieved for any gemstone at auction. The previous record was held by a 3.73 carat, fancy vivid blue pear-shaped diamond which sold for $1,328,444 per carat at a Sotheby’s auction in May 2008.

The blue diamond’s price also surpasses the world record for a fancy vivid blue diamond sold at an auction, which was formerly held by a 6.04 carat, fancy vivid blue diamond ring which sold for $7,981,835 at a Sotheby’s auction in October 2007.

Petra Diamonds’ CEO Johan Dippenaar commented: “The price achieved at the Sotheby’s auction for this exquisite, internally flawless blue diamond is a world record by value per carat and the highest price to be achieved by a fancy vivid blue diamond, and reflects how incredibly rare and collectable such an important blue diamond is to the connoisseur. The renowned Cullinan mine continues to captivate the world with spectacular diamonds, building on its legacy as the source of some of the world’s most famous gems.”

David Bennett, Chairman, Europe & the Middle East, Sotheby’s International Jewelry Department, stated: “We are absolutely thrilled with the price achieved for this exceptional stone. It has been a real privilege to offer a diamond of this importance as the centerpiece of our sale.”