Sotheby's auctions a large blue diamond 0:51
(CNN) --
The world's largest blue diamond up for auction has sold for HK$450,925,000, or $57.5 million.
Dubbed "The De Beers Cullinan Blue," the massive 15.10-carat step-cut gem sold at Sotheby's in Hong Kong after an eight-minute bidding war between four bidders, according to Sotheby's.
The winning bid, which topped his high estimate of $48 million, came from an anonymous buyer over the phone.
The rare diamond was found at South Africa's Cullinan mine in 2021 and has achieved the highest grades by which colored diamonds are judged.
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According to a statement from Sotheby's, the Gemological Institute of America (GIA) categorized the gem as "fancy vivid blue," the highest color rating, which has been given to no more than 1% of blue diamonds submitted to the organization.
Source: Sotheby's/De Beers/Diacore
Describing the diamond as "exceptionally rare", the Sotheby's statement added that only five gems over 10 carats have appeared at auction.
None have exceeded 15 carats, "which makes the appearance of this flawless gem a historic event in itself."
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With a final price of $57,471,960, "The De Beers Cullinan Blue" nearly broke the record for the most expensive blue diamond ever sold at auction.
That title continues to be held by the 14.62-carat "Oppenheimer Blue," which sold in 2016 with a final price of $57,541,779, a difference of just under $70,000.
Patti Wong, president of Sotheby's Asia, said in a statement: "It is truly a once-in-a-generation stone and the largest blue diamond of its size I have ever seen."
Blue DiamondHong KongAuction
