Sotheby’s in Hong Kong to Sell 7.59-Carat Blue Diamond

Momentum of strength of diamond prices at international auctions seen continuing with blue diamond likely to break record.

Sotheby’s in Hong Kong will sell a 7.59-carat blue diamond in October.

Quek Chin Yeow, Sotheby’s Asia deputy chairman, was quoted in the media as saying the diamond was likely to reach a sale price of around $19 million.

The auction house which it estimates will sell for around $19 million, according to The New York Times.

The “The Premier Blue” diamond will be offered for sale on October 7 as part of Sotheby’s twice-yearly auctions.

“Since about 2006, 2007, Hong Kong has ranked alongside Geneva and New York as a center for jewelry sales,” Quek was quoted as saying by The New York Times. “It is now the third pillar of the global jewelry market.”

Sotheby’s will put the diamond and other auction items on display around Asia, including Beijing, Shanghai, Bangkok, Singapore, Jakarta and Taiwan.