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Rare "Vivid Blue Diamond" to be auctioned 12 May 2009 at Sotheby's, Geneva

Geneva, Switzerland (Genevalunch) – The shining star of the show when Sotheby’s auctions off its next batch of jewels 12 May in Geneva will be a rare “Fancy Vivid Blue” 7.03 carat diamond from a rough stone of 26.58 carats, never worn. The new owner will have the privilege of naming the stone, which is expected to fetch CHF6.8-10 million. The diamond was found in 2008 in South Africa’s famed Petra Diamonds’ Cullinan mine.

Another Fancy Vivid Blue diamond failed to sell in November 2008 in Geneva, raising questions at the time about the impact of the financial crisis on the fine jewels market.

The founder of Guess jeans, Georges Marciano, paid $16.2 million in Geneva in November 2007 for an unnamed diamond that he baptized Chloe in honour of his daughter.

A highlight of the vintage watches sale which is part of the event is a Patek Philippe split seconds chronograph Ref. 5959P. Sotheby’s is holding three auction sessions, with magnificent jewels, noble jewels, and jewels from private collections up for sale. Bids start at CHF6,000.

Among the treasures: a step-cut 4.5 carat Harry Winston diamond ring mounted in platinum, currently “the property of a lady,” according to the catalogue, which will go for a minimum bid of CHF95,000 and a set of four gold cigarette cases and one card case, up for auction as a lot, with a minimum bid of CHF7,000.

related: Watch Time

Four-minute video clip on the blue diamond, history of the mine: Sotheby’s