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NEW RECORD. ‘OPPENHEIMER BLUE’ DIAMOND SELLS FOR $58 MILLION IN AUCTION RECORD

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By Dan Bart | May 20, 2016 11:17 pm

‘Oppenheimer Blue’ diamond is the most expensive jewel ever auctioned.

Who could say no to this? The 14.62-carat stone, billed as the largest Vivid Blue diamond ever put up for auction, obliterated the Christie’s pre-sale estimate range of between 38 million and 45 million Swiss francs.

The stronger dollar and collapse in oil income for buyers in Russia and the Middle East have weighed on demand. Prices for rough diamonds — what mined gems are called before they’re cut and polished — slumped 18 per cent last year, the most since the financial crisis in 2008.

A blue diamond set a record price for a jewel in auction when it went under the hammer for $US58 million ($80 million) in a Christie's sale in Geneva.

A blue diamond set a record price for a jewel in auction when it went under the hammer for $US58 million ($80 million) in a Christie’s sale in Geneva.

The world’s biggest and rarest diamonds tend to be more resilient to a slump in prices.

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