SourcingJun 24, 2021
This Time, Lucara Finds a 1,174-Carat Diamond in BotswanaSourcingJul 14, 2021
39-Carat Blue Diamond Sells to De Beers, Diacore for $40M
The “exceptional” stone went for about $1 million per carat and is the second natural color rough diamond purchased by the two companies.
De Beers and manufacturer Diacore paid $40.2 million for this 39.34-carat blue diamond. It’s expected to yield a 14- or 15-carat polished stone that is cushion- or pear-shaped.
London—The “exceptional” 39.34-carat blue diamond recovered from a mine in South Africa has been sold, Petra Diamonds Ltd. announced Monday.
A partnership between De Beers Group and manufacturer Diacore International, a De Beers sightholder, paid $40.2 million ($1 million per carat) for the stone.
The two companies will appoint “expert artisans” to study and work with the diamond prior to cutting, so that “its beauty can be maximized before it is presented to the wider world,” De Beers said in a statement issued Wednesday morning.
The 39.34-carat diamond is the single most expensive stone Petra has ever sold.
It’s also the second rough blue diamond the De Beers/Diacore partnership has recently purchased from Petra, which just underwent a debt-for-equity restructuring after a failed attempt to find a buyer.
In November 2020, the two companies bought the five blue diamonds comprising the “Letlapa Tala Collection,” paying $40.36 million.
Related stories will be right here …
Like the 39-carat blue diamond, those stones came from the Cullinan Mine, which has yielded a number of famous diamonds, both natural color and colorless.
Among them is the rough that yielded the 12.03-carat blue diamond later named the “Blue Moon of Josephine,” which sold for $48.5 million at a Sotheby’s auction in November 2015.
That is roughly $4 million per carat, which remains the highest price-per-carat ever paid for a gemstone sold at auction.
In an interview last month, L.J. West Diamonds gemologist George Togholian, who worked on the cutting of the Blue Moon at a previous job, said this 39-carat blue diamond looks “very similar” to the rough that became the Blue Moon.
Blue diamonds from Cullinan, he said, possess a “special tone of blue” that’s not comparable to any other diamonds.
Though Togholian declined to share his estimate, others predicted the diamond would sell for upward of $1 million a carat, with one diamantaire telling National Jeweler the stone could go for as much as $65 million.
It fell well short of that mark at $40 million.
Larry West, owner of L.J. West Diamonds, said the rough diamond’s sale price is indicative of where the market is right now.
The Blue Moon, sold as rough in 2014 and auctioned as a polished diamond for $4 million per carat the following year, was purchased at a high point.
Today, travel limitations and lingering concerns around COVID-19 are “putting a little damper” on the sale of extremely rare natural color diamonds, West said, holding down prices slightly.
Damper, however, is a relative term when it comes to these sought-after stones.
While more and more large colorless diamonds are being found, the supply of exceptional natural color diamonds is dwindling. West cited both the closure of the Argyle mine and Cullinan, where Petra has to keep going deeper to find diamonds like the 39-carat blue, as examples.
“In general, [the 39-carat diamond’s $40 million sale] still shows how strong [the market for] vivid blues is ... as a commodity, they generate strong interest,” he said.
More on Sourcing
The Latest
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
