World's rare $20 million blue diamond to be unveiled in Abu Dhabi

A rare 10.03-carat blue diamond, known as The Mediterranean Blue, will be on display in Abu Dhabi on April 8, marking its global unveiling before heading to auction in Geneva.

Estimated at approximately $20 million, the diamond is one of the rarest in the world, classified as Type IIb—a category representing less than 0.5% of all diamonds.

Sotheby’s, which will auction The Mediterranean Blue on May 13 in Geneva, has chosen the Bassam Freiha Art Foundation on Abu Dhabi’s Saadiyat Island Cultural District as the site for its first public viewing.

Following its debut in the UAE, the diamond will travel to Taipei, Hong Kong, and New York before its final exhibition and sale in Switzerland. According to the Gemological Institute of America (GIA), The Mediterranean Blue exhibits the highest possible color grading for a blue diamond. Its cushion-shaped cut enhances its saturation and brilliance, placing it among the most coveted diamonds ever to reach the market.

“Any vivid blue diamond is a discovery worth celebrating, but one of this size and depth of color is a rare event,” said Quig Bruning, Sotheby’s Head of Jewelry for the Americas & EMEA.

“Its remarkable size, exquisite cushion-cut, and mesmerizing ocean-blue hue position it among the most important blue diamonds to appear in recent years.”

Fashioned from a 31.94-carat rough diamond discovered at South Africa’s famed Cullinan mine in 2023, the gem underwent a meticulous year-long planning and six-month cutting process to achieve its final form. Cullinan has previously yielded some of the world’s most renowned diamonds, including The Blue Moon of Josephine, a 12.03-carat Fancy Vivid Blue diamond that fetched $48.5 million at Sotheby’s Geneva in 2015, and The De Beers Blue, a 15.10-carat step-cut Fancy Vivid Blue diamond that sold for $57.5 million in 2022.

Following its showcase in Abu Dhabi, The Mediterranean Blue will embark on a world tour before taking center stage at Sotheby’s High Jewelry Sale in Geneva on May 13. Given the rarity of Fancy Vivid Blue diamonds—particularly those surpassing 10 carats—this upcoming auction is expected to generate significant global interest.