Introduction to the Auction
A nearly 10-carat blue diamond was auctioned in Switzerland on Tuesday for 20.5 million Swiss francs ($26.6 million). The 9.51-carat diamond is named “Mellon Blue” after the late American art patron Rachel “Bunny” Mellon.
History of the Diamond
For decades the stone – then set as a pendant – was part of Mellon’s private collection. The diamond was expected to fetch $20 million to $30 million at Christie’s auction. It had previously sold for $32.6 million in 2014 – the year Mellon died – one of the highest prices ever paid for a colored diamond at auction, according to Christie’s.
Characteristics of the Diamond
The house said the stone arrived within the estimated range. The final price includes the premium and other fees. Max Fawcett, global head of jewelry at Christie’s, said the Mellon Blue is unlike the vast majority of other modern gemstones, which have facets added and modified to enhance the color. "When you have a great shape and a great color, you see the gemstone of all gemstones," he said, pointing to the stone’s Fancy Vivid Blue and Internally Flawless grading, given by the Gemological Institute of America.
Upcoming Auctions
The auction was the first installment of two-day jewelry auctions in Geneva. On Wednesday, rival Sotheby’s is showcasing the "Glowing Rose" pink diamond, which is expected to fetch around $20 million.
The Legacy of Bunny Mellon
Bunny Mellon was a symbol of elegance and sophistication. In 1961, President John F. Kennedy commissioned Mellon to redesign the White House Rose Garden, where she created more open space for public ceremonies and introduced American plant species to the garden. Elsewhere in France, Mellon created a landscape design for the home of a close friend, and helped restore the Potager du Roi at the Palace of Versailles.
