DiamondBuzz
Christie’s to Auction ‘Mellon Blue’ Diamond for Up to $30M in Geneva
The 9.51-carat fancy vivid blue diamond, once owned by Bunny Mellon, will headline the Magnificent Jewels sale this November.
Christie’s will offer a rare and historic blue diamond in its upcoming Magnificent Jewels sale on November 11, with the exceptional stone estimated to fetch up to $30 million.
Known as the Mellon Blue, the jewel features a 9.51-carat, pear-shaped, fancy vivid blue diamond, graded internally flawless — one of the highest accolades for clarity and color in the diamond world.
The diamond was once owned by Rachel Lambert “Bunny” Mellon, the American philanthropist, art collector, and noted horticulturalist whose garden designs can be seen at both the White House and the Palace of Versailles. Mellon, heiress to the Gillette fortune, was known for her refined taste and cultural influence.
Previously set in a pendant, the diamond was sold at Sotheby’s in 2014 for $32.6 million, where it set a then-world record for a blue diamond. It has since been recut to enhance its clarity, and is now being presented in a newly designed ring setting for this sale.
“This stunning fancy vivid blue diamond, which once belonged to America’s ‘Garden Queen,’ is among the finest colored diamonds ever to come to market,” said Rahul Kadakia, International Head of Jewelry at Christie’s. “After a very strong first half for Christie’s jewelry department, we look forward to the second half of 2025 with great confidence.”
Ahead of the auction, Christie’s will preview the Mellon Blue in Saudi Arabia, Shanghai, Hong Kong, Bangkok, and New York, allowing collectors and connoisseurs around the world a rare glimpse at one of the most exquisite colored diamonds to appear at auction in recent years.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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