US$20mil Blue Diamond Goes on Show in Abu Dhabi
A Rare Gemstone Valued at US$20 Million
A rare blue diamond valued at US$20 million went on pre-auction display on Tuesday in Abu Dhabi, capital of the oil-rich United Arab Emirates. The 10-carat Mediterranean Blue, which will go on sale in Geneva next month, is the showpiece of a collection estimated at US$100 million, organisers said.
A Collection of Rare and Valuable Gems
Included in the group is the largest flawless diamond in the world, the second largest red diamond known to exist, and several diamonds over 100 carats. The chiselled stones were on display next to lavish jewellery, including a white-diamond encrusted necklace featuring a 100.26-carat pear-shaped brown diamond pendant.
A Showcase of Luxury
The blue diamond will be showcased in Taipei, Hong Kong, and New York before its exhibition and sale in Geneva in mid-May. The display is part of a larger showcase of luxury goods and services in the region.
Why the Gulf is a Hub for Luxury
“At the top of the rarity pyramid are blue diamonds,” said Quig Bruning, head of jewels for Sotheby’s in North America, Europe, and the Middle East. “The Gulf is, in my mind, the core of where the luxury market is headed.” The resource-rich, largely tax-free Gulf, including the UAE’s trade and tourism hub Dubai, has long been a magnet for high-net-worth individuals and the ultra-wealthy.
Conclusion
The Mediterranean Blue diamond is a rare and valuable gemstone that is sure to attract significant attention and bids at auction. Its display in Abu Dhabi is part of a larger effort to showcase luxury goods and services in the region, which is well-positioned to become a hub for high-end consumers.
FAQs
* What is the value of the Mediterranean Blue diamond? The diamond is valued at US$20 million.
* When will the diamond go on sale? The diamond will go on sale in Geneva next month.
* What is the estimated value of the entire collection? The collection is estimated at US$100 million.
* Where will the diamond be showcased before its sale? The diamond will be showcased in Taipei, Hong Kong, and New York before its sale in Geneva.