Moussaieff buys blue diamond at HK auction for $6.4 million

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HONG KONG, April 8, 2010 – Bond Street jeweller Moussaieff bought a rare, flawless blue diamond that was once part of the De Beers Millennium Collection for $6.4 million, above the pre-sale estimate of $4.6-5.8 million, at a Sotheby’s auction in Hong Kong on April 7.

The 5.16 carat pear-shaped diamond was the first gemstone to appear in an auction from the collection that miner De Beers presented in 2000 to celebrate the new millennium.

Millennium Blue Diamond Ring
5.16ct Millennium Blue Diamond Ring

Alisa Moussaieff, co-owner of Moussaieff, which has upscale stores on Bond Street and in the Hilton Hotel Park Lane, bought the diamond.

White diamond necklace
107.43ct White Diamond Necklace
 Sotheby’s auction in Hong Kong
Sotheby’s auction in Hong Kong

Moussaieff is one of the world’s leading diamond dealers and has purchased some of the world’s most exquisite gemstones.
The De Beers Millennium Collection comprised 12 rare gems and took decades to put together.
Blue diamonds are among the rarest of all gems and owe their natural colour to the presence of the chemical element boron.

The diamond was a star lot of the Sotheby’s jewellery sale.
Sotheby’s also sold a Diamond Riviere necklace comprising 50 D-colour, internally flawless white diamonds weighing a total of 107.43 carats for $6.7 million, above its pre-sale estimate of $4.1-5.1 million.

Referring to the most highly valued pieces, Quek Chin Yeow, head of Sotheby’s Hong Kong Jewellery Department and Deputy Chairman of Sotheby’s Asia, said, “Our top lots provided the very special and the rare, and were the objects of vigorous competition from bidders from across Asia and the world, both private collectors and trade.”

The overall auction raised $52.4 million. Sotheby’s said this was the highest total for a sale of this category – Magnificent Jewels and Jadeite, in Hong Kong.

China is one of the world’s fastest growing diamond markets, as its economy flourishes while the rest of the world still struggles with the economic crisis.

In May 2009, a 7.03 carat cushion-shaped flawless blue diamond set the world record price per carat for any gemstone at a Sotheby’s Geneva auction when it was bought by a Hong Kong collector for $9.48 million.