3.47 Carat Blue Diamond Breaks World Record

3.47 Carat Intense Blue Diamond - image courtesy of Sotheby’s

A cut-cornered rectangular step-cut fancy intense blue diamond weighing 3.47 carats set a price-per-carat world record for a blue diamond after it sold for $1.9-M/carat to reach almost $6.7-M at Sotheby’s Magnificent Jewels Auction.

The gem’s final price nearly 3X’d Sotheby’s (NYSE:BID) pre-sale estimate of between $2 and 2.5-M and pushed up the auction final results to $26.2-M. The blue stone was previously owned by an anonymous Midwestern family.

In total, the fine jewelry broker garnered $34-M across its New York Spring auctions Sotheby’s said in an e-Mail.

According to Sotheby’s, buyers from all over the world flooded New York emptied their wallets by acquiring a 72.96-carat diamond bracelet for $1.4-M and a 13.70-carat Tiffany & Co. (NYSE:TIF) diamond ring for $1.2-M.