Business
Cullinan blue diamond breaks
Cullinan blue diamond breaks.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n RNS Number : 1548S Petra Diamonds Ld 13 May 2009 \n \n\n\n\n\n\n\n\n\n\n13 May 2009\n\n\nAIM: PDL\n\n\n\n\n\n\nPetra Diamonds Limited\n('Petra Diamonds' or 'the Company')\n\nCullinan blue diamond breaks world records at auction\n\n\nPetra Diamonds is pleased to announce that the blue diamond produced from the Cullinan mine has sold for US$9,488,754m*, or US$1,349,752 per carat, establishing a new record price per carat for any gemstone sold at auction and the highest price for a fancy vivid blue diamond sold at auction.\n\nThe important fancy vivid blue, internally flawless, cushion-shaped diamond weighing 7.03 carats sold yesterday evening as the centrepiece of Sotheby's Magnificent Jewels auction in Geneva. This sale price has surpassed the world record price per carat achieved for any gemstone at auction, which was formerly held by a 3.73 carat, fancy vivid blue pear-shaped diamond which sold for US$1,328,444 per carat at a Sotheby's auction in May 2008. It also surpasses the world record for a fancy vivid blue diamond sold at auction, which was formerly held by a 6.04 carat, fancy vivid blue diamond ring which sold for US$7,981,835 at a Sotheby's auction in October 2007.\n\n\nPetra 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. This has been a very successful partnership with Sotheby's, one of the pre-eminent names in jewellery sales, and has provided the perfect platform to garner international recognition for a gem of this calibre.'\n\n\nDavid Bennett, Chairman, Europe & the Middle East, Sotheby's International Jewellery department, commented after the sale: 'We are absolutely thrilled with the price achieved for this exceptional stone, which ranks as the highest price ever established for a fancy vivid blu...