A rare and radiant 10.03-carat blue diamond — aptly named ‘The Mediterranean Blue’ — is making headlines this week in Abu Dhabi, where it’s being showcased ahead of its expected $20 million auction debut in Geneva next month.
The extraordinary gem, one of the rarest of its kind, is currently on display at the Bassam Freiha Art Foundation on Saadiyat Island, marking Sotheby’s first public exhibition in Abu Dhabi since 2009. The event is being held in partnership with the Abu Dhabi Investment Office, as the emirate looks to enhance its standing in the global art and luxury asset scene.
“Blue diamonds are among the rarest of all diamonds — especially those over 5 carats,” said Quig Bruning, Sotheby’s Head of Jewels for the Americas, Europe, and the Middle East. “The Mediterranean Blue, with its exquisite cushion cut and intense saturation, stands in a class of its own.”
Geneva Awaits the Hammer Drop
The diamond will headline Sotheby’s High Jewelry Sale in Geneva on May 13, and its arrival on the auction block comes at a time when high-value gemstones are regaining interest from collectors following a subdued 2024.
“Exceptional diamonds like this are wonders of nature — they don’t come around often,” Bruning noted. “Their rarity alone commands global attention.”
The record for a blue diamond was set in 2015, when the 12.03-carat ‘Blue Moon of Josephine’ sold for $48.5 million in Geneva. While that price remains unbeaten, industry insiders say ‘The Mediterranean Blue’ could spark intense bidding, especially in today’s climate where investors are once again exploring alternative luxury assets.
A Sparkling Lineup in Abu Dhabi
Joining The Mediterranean Blue in the Abu Dhabi exhibition are two other renowned diamonds:
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The Golden Canary — a deep yellow stone known for its sheer size and rich color.
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The Desert Rose — another standout gem that adds local flair to the collection.
But even with such high-caliber company, the vivid blue hue of The Mediterranean Blue has been stealing the show.
“Its cushion shape and top-tier colour grading place it in an elite category — even among the world's finest diamonds,” said Bruning.
Diamonds and Records
The high jewelry market has seen its share of blockbuster sales over the years:
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In November 2022, the Williamson Pink Star, a bubblegum-pink diamond, fetched $57.7 million in Hong Kong — the second-highest price ever for a gemstone.
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The record still belongs to the CTF Pink Star, a 59.60-carat diamond sold in 2017 for $71.2 million, setting a per-carat world record at over $5.1 million.
With the Geneva sale just weeks away, experts say The Mediterranean Blue could become the next name etched in auction history, depending on how eager collectors are to chase rarity in one of its most dazzling forms.
