A rare 9.51-carat blue diamond once owned by American art collector Bunny Mellon sold for $25.6 million at a Christie’s auction in Geneva on Tuesday. The gem, known as the Mellon Blue, was the centerpiece of the auction house’s Magnificent Jewels sale, held at the Hotel des Bergues.
The stone fetched 20.5 million Swiss francs, surpassing its lower estimate of 16 million but falling just short of its high estimate of 24 million. Auctioneer Rahul Kadakia said the result reflected continued elite appetite among collectors for extraordinary and storied gems.”
Set in a serpentine-shaped ring, the internally flawless diamond had been a part of the elegant collection of Rachel Lambert “Bunny” Mellon, the late horticulturalist, philanthropist, and socialite whose life embodied the luxury of a bygone era. “The Mellon Blue is not only an exceptional stone but a symbol of the grace and glamour of that time,” said Max Fawcett, head of jewelry at Christie’s Geneva.
The jewel last appeared publicly in 2014, when it sold in New York after Mellon’s death at age 103 for more than $32 million. Some experts had expected the gem to command a higher price this time. Tobias Kormind, managing director of 77 Diamonds, attributed the more cautious bidding to global uncertainty and a sluggish Chinese economy that kept some buyers away.
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