The Mediterranean Blue, a fancy vivid blue diamond weighing 10.03 carats, is described as one of the most exciting fancy colour diamonds to be offered at Sotheby’s to date.

The recently discovered and polished cushion-cut diamond, named for its mesmerising hue that recalls the azure Mediterranean waters, will headline Sotheby’s flagship jewellery sale in Geneva on May 13. It will be unveiled in Abu Dhabi on April 8 ahead of the auction.

The Mediterranean Blue is accompanied by Gemological Institute of America report stating that it is a fancy vivid blue, type IIb diamond of VS2 clarity. 

According to Sotheby’s, only 0.3 per cent of all diamonds display a colour that is predominantly blue. Of this, only a very small subsection qualifies as fancy vivid blue. 

The Mediterranean Blue was mined in South Africa as an impressive rough weighing 31.93 carats. “After careful planning, followed by a cutting process that lasted well over half a year, The Mediterranean Blue was fashioned as a cushion modified brilliant-cut diamond weighing 10.03 carats,” the auction house said.

Sotheby’s also announced that it is renaming its Magnificent Jewels auctions to “High Jewelry” in response to the changing profiles and behaviours of the modern collector. This also aligns more closely with today’s increasingly digital marketplace, noted Sotheby’s.

“This change raises our online visibility, furthering our reach to new audiences and confirming our commitment to outstanding results,” it noted.