Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The world’s largest flawless vivid blue diamond has sold for $24.2 million, setting an all-time record at a global auction of $2 million per carat for a blue rock.
The pear-shaped diamond, known as “The Blue” is a 13.22 carats precious gem that has put Christie’s International back in the podium, as world’s top jewellery auction house.
Al in all, the company got a world record of $154.2 million in this spring auction
The stone’s winner was Harry Winston, which has rechristened the diamond as the Winston Blue.
This is the second time in the last year the Swatch Group–owned retailer purchased a notable stone; it spent $27 million on the 101.73 ct. D flawless Winston Legacy last May.
“When Christie’s announced they were offering the largest flawless fancy vivid blue the GIA had ever graded, I had to buy it,” said Harry Winston CEO Nayla Hayek in a statement, quoted by Diamond World.
This is not the first time Christie’s scores big. Last year it sold “The Orange” —the largest fancy vivid orange diamond in the world— for $35.5 million.
