Business
Auction of the Cullinan Dream Blue Diamond
Auction of the Cullinan Dream Blue Diamond.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 1873Z Petra Diamonds Limited 25 May 2016 \n\n \n \n \n \n\n\n\n\n25 May 2016\n\n\n\n\n \nTHE CULLINAN DREAM\n \nAUCTION OF THE WORLD'S LARGEST FANCY INTENSE BLUE DIAMOND \n \n· The Cullinan Dream is the largest Fancy Intense Blue Diamond ever to be offered up to auction, with a value estimate of US$23m - US$29 million\n \n· The 24.18 carat diamond will be auctioned as the centrepiece of Christie's Magnificent Jewels auction on 9 June 2016 in New York\n \n· In June 2014, Petra Diamonds announced the discovery of a 122.52 carat blue diamond from South Africa's Cullinan mine, which was cut into four notably sized diamonds, of which the Cullinan Dream is the largest \n \n· Cullinan is one of the world's most celebrated mines for producing rare and famous diamonds - including the world's largest rough gem diamond ever found, the 3,106 carat Cullinan diamond\n \n· Petra Diamonds will receive a 15 percent share in the Cullinan Dream sales proceeds after expenses \n \n \nThis exceptionally rare blue diamond is being auctioned at Christie's Magnificent Jewels & The Cullinan Dream auction at the Rockefeller Center in New York on 9 June 2016, with a value estimate of US$23 million to US$29 million. Petra Diamonds, one of the world's largest independent diamond mining companies, discovered the 122.52 carat blue rough diamond at its Cullinan mine near Pretoria, South Africa, in June 2014. \n \nThe rough diamond was meticulously analysed by a master cutter and the best yield was determined, resulting in four polished blue diamonds of notable size. These include a cushion-cut diamond of approximately 7.00 carats, a radiant-cut diamond of approximately 10.30 carats, a pear-shaped diamond of approximately 11.30 carats, and the Cullinan Dream, a cut-cornered rectangular mixed-cut diamond of approximately 24.18 carats.\n \nThe Cullinan Dream, named for its captivating and celestial beauty, has been graded by the Gemological Institute of America as a fancy intense blue diamond and classified as Type IIb. Type IIb diamonds are very rare and account for less than one-half of one percent of all diamonds found in nature. These ...