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Rare deep-blue diamond ring sells for cool PS6.2m.

A RARE deep-blue diamond ring has set a world record at auction.

The piece of jewellery, made by renowned Italian company Bulgari, fetched $1.8m per carat (about PS1.18m) - beating the previous record for a blue diamond, which was $1.68m per carat (PS1.05m).

Graff Diamonds bought the 5.30 carat "fancy" diamond, in a Trombino ring, for PS6,201,250 in the Bonhams fine jewellery sale in London yesterday, following intense bidding from around the world.

The ring had been estimated to sell for up to PS1.5m.

Matthew Girling, chief executive of Bonhams UK and Europe, said bidders from the US, the Middle East and Europe took part, with more than 20 phone lines in use during the 10-minute auction.

He said of the piece: "It's the loveliest blue diamond I have ever seen."

The ring, thought to have been made in 1965, features a cushion-shaped diamond set horizontally within a mount of brilliant-cut diamonds and baguette-cut diamonds.

The term "fancy" is used to describe a diamond of intense colour, with fancy deep-blue one of the rarest colours.

Blue diamonds are structurally very pure and account for fewer than 1% of diamonds.

Jean Ghika, of Bonhams jewellery department, said: "It was a sensational stone which charmed everyone."

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| A Bonham's employee examines the rare deep-blue diamond ring which sold for a record PS1.18m per carat
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Publication:Western Mail (Cardiff, Wales)
Date:Apr 25, 2013
Words:231
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