122.52 Carat Blue Diamond Rough Could Fetch $35 Million

An extremely rare piece of diamond rough was recently discovered at the famous Cullinan mine in South Africa, a 122.52 carat blue beauty that is estimated to sell for up to $35 million.

Comparable rough blue diamonds (over 100 carats) are somewhat of a legend: there have only been three or four that were ever recovered according a spokesperson of Petra Diamonds Ltd., the company that currently owns the Cullinan mine. Also in the blue diamond 100-carat plus club is the 115 carat rough from which ‘The Hope Diamond’ was cut. Often described as the most famous diamond in the world, The Hope is a 45.52 carat, Fancy Dark Grayish Blue diamond that is on permanent display at the Smithsonian Museum in New York.

The highest price paid for a rough diamond to date is $35.3 million. That record was achieved by the sale of a 507-carat colorless diamond, which was unearthed at the same Cullinan mine in 2010. Many diamond industry analysts are speculating that their newest find can rival, or even surpass, the $35 million mark.

Blue diamonds get their color from traces of boron impurities trapped in the carbon structure during formation. The crystallized carbon molecules form a very tight lattice structure that is nearly impenetrable; that is the reason for a diamond’s unparalleled hardness. It also makes it very unlikely for any impurities to be introduced into the structure, which is why blue diamonds (and other colors caused by impurities) are exceedingly rare and valuable.

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