In a glittering display of extravagance, a rare 10-carat Mediterranean blue diamond from South Africa is turning heads at Sotheby’s exclusive exhibition in Abu Dhabi, United Arab Emirates. The stone stands out in a collection of eight extraordinary diamonds, together weighing more than 700 carats and valued at a jaw-dropping $100 million.

The crown jewel of the showcase, this mesmerizing blue diamond is slated for auction in May, where it’s expected to fetch around $20 million. Considering how blue diamonds are already rare, this one is being hailed by experts as one of the most important ever discovered. Talk about a rock that could pay off your mortgage—and every neighbor’s on your block.

The exhibition isn’t just about blue: visitors can also feast their eyes on a rainbow lineup including red, yellow, pink, and classic colorless diamonds, each with their own high-profile sparkle. Quig Bruning, Sotheby’s head of jewels for North America, Europe, and the Middle East, noted the UAE was intentionally chosen for the event, thanks to the country’s deep fascination with diamonds and its booming trade market.

Notably, the UAE earned the title of the world’s largest trade hub for rough diamonds back in 2021, according to data from the Dubai Multi Commodities Centre. The numbers are just as dazzling: nearly $23 billion worth of rough stones were traded in 2021, and in 2023, the value of both rough and polished diamonds traded soared to over $38 billion. Sotheby’s is clearly betting big on the region’s appetite for the rarest and most valuable gems on earth.

Bruning expressed strong optimism for the local market, highlighting that the UAE draws both seasoned traders and passionate collectors hunting for once-in-a-lifetime stones. And with a blue diamond of this magnitude in the mix, it’s not hard to see why the anticipation is sky-high ahead of the May auction.

Luxury News

Dazzling 10-Carat Blue Diamond Heads for $20M Auction Amid $100M Gem Showcase