Cullinan Ancestor at US Auction Where SA Diamond Sets Record Price

A diamond found in South African in 2014, the Cullinan Dream, has become the most expensive Fancy Intense blue diamond sold at auction, according to Christie’s. The diamond sold in New York this week for $25,365,000.

In the audience was Mark Cullinan, an international jewelry dealer and the great-grandson of Sir Thomas Cullinan, who discovered the Cullinan Diamond Mine near Pretoria in 1898.

“My great-grandfather would be delighted to see how one of the newest exceptional blue diamonds from the mine he discovered resonates with top collectors in the market today,” Cullinan was quoted saying.

The 24.18-carat rectangular gem was the top item at Christie’s New York Magnificent Jewels event on Thursday. Set in a platinum ring flanked with classic baguette-cut diamonds, the Cullinan Dream is almost 10 carats larger than the 14.62-carat Oppenheimer Blue, which sold for a record $57.5 million and was previously the largest blue diamond ever sold at auction.

“Drawn from the Cullinan mine in South Africa, formerly known as the Premier mine, the diamond is the largest of four blue diamonds cut from the 122.52 carat rough unearthed in 2014,” Christie’s said in its information on the diamond.

“The mine made history in 1905 when a 3,106.75 carat rough produced the Cullinan I (also known as the Star of Africa), the largest polished white diamond in existence. The Cullinan I is now housed in the Tower of London as part of the Crown Jewels of England. In recent years the legendary mine remains newsworthy as the source for some of the most significant pink and blue diamonds to come to market.”

“The combination of the weight, colour and Type IIb properties together make the Cullinan Dream a truly exceptional and rare diamond. Most fancy intense blue diamonds weigh less than a single carat as the grade calls for very strong colour and full saturation. At a weight of 24.18 carats, it is remarkable for the stone to display such a pure and consistently strong blue colour throughout every facet,” Christie’s said.