Rare Blue Diamond Sells for $57.5 Million

“The Oppenheimer Blue”, the world’s largest blue diamond, an extremely rare gem, sold for $57.5 million at Christie’s Geneva, making it the most expensive diamond ever to be sold at auction. The sparkling gem sold to a private collector.

Mounted on a platinum ring and flanked on either side by a trapeze-shaped diamond, the 14.62 carat Fancy Vivid stone is the largest and best quality blue diamond ever to appear at auction.
In blue diamonds, Fancy Vivid describes stones that are medium to dark in tone and strong to very strong in color saturation.

It was named after its former owner, the late Sir Philip Oppenheimer, a diamond dealer whose family owns the influential diamond company De Beers.
The Oppenheimer steals the title of world’s most expensive diamond from the 12.03 carat “Blue Moon of Josephine,” which held the previous record at $48.4 million.
Blue diamonds are exceptionally rare, comprising only around 0.0001% of the world’s diamonds, according to Christie’s. Of this tiny fraction, only about 1% are classified as Fancy Vivid, helping to explain the Oppenheimer’s wallet-melting price tag.
References
http://edition.cnn.com
http://mostexpensivediamond.org/
http://content.time.com