Rare Blue Diamond Set for Auction Could Fetch 200 Million Kronor

Diamonds valued at nearly one billion Swedish kronor have been showcased in the United Arab Emirates ahead of an upcoming auction.

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Rare Blue Diamond Set for Auction Could Fetch 200 Million Kronor
Photo: Altaf Qadri/AP/TT

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The eight diamonds have a total weight of over 700 carats. The main piece is a rare blue diamond called Mediterranean Blue, which, according to the auction firm Sotheby's, is expected to be sold for around 200 million kronor.

"The group includes the largest flawless diamond in the world, the second-largest red diamond that we know exists, and several diamonds over 100 carats," says the agency in a statement.

The collection also includes yellow, pink, and colorless diamonds.

The gemstones will go under the hammer in Swiss Geneva in May, after first being displayed in Abu Dhabi, Taipei, Hong Kong, and New York. The fact that Abu Dhabi in oil-rich United Arab Emirates is first out is due to the great interest in the region, according to Sotheby's gemstone chief Quig Bruning.

According to me, the Gulf (Persian Gulf area) is the core of where the luxury market is heading, he says.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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