Remember the 11.16-carat vivid blue diamond that Priyanka Chopra Jonas wore on the red carpet at the Met Gala in the first week of May? Called the Bulgari Laguna Blu Diamond, the fancy vivid blue diamond is the largest blue diamond to be ever offered for sale. And earlier this week it sold for $25,189,429 at the Sotheby’s Magnificent Jewels Auction in Geneva making it the most valuable gem ever offered by Bulgari for sale.
“It’s been a privilege to witness the Bulgari Laguna Blu’s glamorous and exciting journey over the past few months, knowing that it was first created in 1970, to its most recent Met Gala appearance where it dazzled on the red carpet, set in a bespoke Bulgari necklace worn by Priyanka Chopra Jones. So, it’s a special moment to see this extraordinary jewel’s journey take yet a new turn, this evening in our auction room, in the hands of its first new owner in over 50 years,” said Olivier Wagner, Head of Jewellery, Sotheby’s Geneva.
The exceptional jewel was put up for auction last and after a four-minute bidding battle between three telephone bidders and one bidder in the room, it eventually found a buyer on the phone.
The Bulgari Laguna Blu was created in 1970 by Bulgari as a ring. The 11.16 carat fancy vivid blue diamond is unmodified which means that its current cut – produced in 1970, could be further improved with modern cutting methods to release its full gemstone potential.
The Geneva auction recorded its best sale performance in five years, since May 2018 by achieving sales totaling $85,431,762. Besides, the Bulgari Laguna Blu diamond, the other highlights included a pink and grayish blue diamond ring that sold for over $11 million, a yellow diamond ring that sold for over $1 million, and a sapphire and diamond set from 1890 that sold for $537,298. A Van Cleef & Arpels ruby and diamond set from 1980s sold for more than double its estimated value for $226,231. “There is no doubt that high quality high jewellery can still command sky high prices,” said Wagner.
The Sotheby’s Geneva flagship sale soared with more than half (53.4 per cent) of all lots selling way above their high estimate and virtually all lots sold reaching prices within or above their estimates (97 per cent).