A rare blue diamond ring failed to sell at the April 3 Sotheby’s Auction in Hong Kong. The blue diamond ring that was estimated to fetch a diamond price between $6 million to $7 million. However, the 14.18 carat, VVS2, fancy intense blue step cut diamond failed to find a buyer.
The fancy blue diamond ring comes with a diamond type classification stating that the diamond is determined to be a Type IIb. These diamonds are very rare to find and contain small amounts of boron that can give rise in blue or gray color. The blue center diamond was surrounded by pink diamonds and colorless diamonds on the band.
Besides this blue diamond, Sotheby’s failed to sell top lot “Circle of heaven” a jadeite bangle. The bangle was estimated to be sold around $10.2 – $12.8 million. According to Sotheby’s Asia deputy chairman Quek Chin Yeow, one reason the bangle was not sold is that the Jadeite market is very price sensitive.