‘Mediterranean Blue Diamond’ could fetch $20m at auction

A 10-carat blue diamond which could fetch $20m (R365m) when it goes under the hammer was presented by auction house Sotheby's in Geneva, Switzerland on Thursday.

The cushion-shaped piece, known as the "Mediterranean Blue Diamond", was mined at Cullinan in SA and displayed a rare colour that qualified as fancy vivid blue, Sotheby's said.

"The market for coloured diamonds continues to go from strength to strength," said Jessica Wyndham of Sotheby's, adding she expected a price in the region of $2m.

In 2016, another vivid blue diamond sold for 56.8 million Swiss francs (R1.2-trillion) at a Christie's auction in Geneva.

Sotheby's high jewellery collection, which includes other coloured gemstones, was presented to journalists in Geneva ahead of a live auction scheduled for May 13 at the Mandarin Oriental Hotel.

Reuters