A rare blue diamond called the Mellon Blue has been sold at an auction in Switzerland for $25.6 million, including fees. The diamond, which weighs 9.51 carats, was expected to sell for between $20 million and $30 million at Christie’s auction in Geneva on Tuesday.

The pear-shaped gem was once owned by Rachel “Bunny” Mellon, a famous American art collector and philanthropist. Christie’s said the diamond sold within its expected price range, which included the buyer’s premium and other fees.

Tobias Kormind, managing director of online jeweler 77 Diamonds, said the sale was not as exciting as expected. “It was supposed to be the highlight of the season, but the market felt cautious,” he said. He blamed global issues like the war in Ukraine, trade tensions involving former U.S. President Donald Trump, and China’s weak economy for lowering buyer enthusiasm.

Despite the quieter mood, Christie’s auctioneer Rahul Kadakia called the sale a “notable moment” that showed how collectors still value rare and historic gems. “This result proves that elite buyers still have a strong appetite for extraordinary stones,” he said.

The Mellon Blue’s sale, however, did not break any records. The highest price ever paid for a blue diamond remains the Oppenheimer Blue, which sold for over $57 million in Geneva in 2016.

This isn’t the first time the Mellon Blue has made headlines. Back in 2014, the same diamond sold for $32.6 million — one of the highest prices ever paid for a colored diamond at the time. The gem had been part of Rachel Mellon’s private collection for many years before her death that year.

Max Fawcett, Christie’s global head of jewelry, praised the stone’s beauty and purity. He explained that the Mellon Blue is special because it hasn’t been heavily modified like many modern diamonds. “When you have both perfect shape and color, you’re looking at the gem of gems,” he said. The Gemological Institute of America graded it as Fancy Vivid Blue and Internally Flawless, meaning it has exceptional color and no visible flaws inside.

The auction in Geneva marked the start of two days of major jewelry sales. On Wednesday, rival auction house Sotheby’s is set to sell another rare gem — the Glowing Rose, a pink diamond expected to bring in about $20 million.

Even though the Mellon Blue didn’t break records this time, experts say its sale shows that rare colored diamonds continue to attract global attention. With their beauty, history, and rarity, gems like the Mellon Blue remain symbols of timeless luxury and value.

Published: 12th November 2025

For more such articles, please follow us on Twitter, Linkedin & Instagram

Also Read:

Smart Cash Flow 10 Tips to Strengthen Small Business Finances
Why Startup Founders Should Run Social Media for a Month
Trump Promises $2,000 Payments to Americans from Tariff Money