Collectables: the scramble for blue diamonds

Coloured diamonds are securing bigger prices at auction, says Chris Carter

De Beers Blue diamond
The De Beers Blue diamond sold for HK$451m, the third highest price ever”
(Image credit: © Sotheby's)

Blue is beautiful when it comes to diamonds. Two of the top three to have fetched the highest prices for coloured diamonds at auction are “fancy vivid” examples – the top spot still belongs to the CTF Pink Star, which sold for HK$553m ($71.2m) in Hong Kong in April 2017.

Last week, the De Beers Blue joined this trio in third place. It sold for HK$451m, also in Hong Kong, with Sotheby’s – only just behind the Oppenheimer Blue, which fetched just $70,000 more in Geneva in May 2016 in nominal terms. It’s not every day that blue diamonds are unearthed in the rough. According to Sotheby’s, only one brilliant blue gem turns up for every 10,000 gem-quality diamonds found, with trace elements of the chemical element boron responsible for their colour.

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Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

You can follow Chris on Instagram.