Petra Diamonds Sells 20ct Blue for $14.9M, or $741,000 per carat

Rough Market
15/11/2019 17:34

Petra Diamonds has announced the sale of an exceptional, 20.08-carat blue diamond recovered at the Cullinan Mine in South Africa in September 2019, which fetched US$14.9 million, or approximately $741,000 per carat. The buyer is a leading diamond company that wishes to remain anonymous, the miner said in a press release. Rough-diamond experts had predicted the diamond would sell for anywhere between $10 - $15 million, so the company will be pleased to have achieved the top end of its estimate, as it provides a significant and much-needed boost to Petra’s fiscal-year 2020 revenue.

Back in 2014, Petra recovered an 'exceptional' 122.52-carat blue diamond called "The Cullinan Dream", which the miner sold for $27.6 million, or $225,269 per carat. Only months before that, Petra sold a 29.6-carat blue stone from the Cullinan mine for the remarkable sum of $25.6 miilion or $862,780 per carat. This one is not far behind that remarkable sum.

"We are very pleased with this result which is in line with our expectations and confirms the resilience in the value of very high quality blue diamonds, undoubtedly one of nature's rarest treasures," said Richard Duffy, Chief Executive of Petra. "We look forward to following this exceptional stone's journey to its polished form."

Image courtesy of Petra Diamonds