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  • Writer's pictureRayah Levy, FCD Invest President

The World's Most Famous Blue Diamonds

Updated: Apr 28, 2022


Blue is the color of the sky and sea. It is often associated with depth and stability. It symbolizes trust, loyalty, wisdom, confidence, intelligence, faith, truth, and heaven. Blue is considered beneficial to the mind and body. It slows human metabolism and produces a calming effect. Blue is strongly associated with tranquility and calmness. In heraldry, blue is used to symbolize piety and sincerity.

Diamonds with a blue hue are said to help protect against misunderstandings and unnecessary fights.

A blue diamond is a real, natural diamond with a noticeable blue tone due to the presence of boron in the diamond’s carbon structure. Blue diamonds range in color from light blue to deep blue often with a secondary hue like violet, gray, or green. Blue diamonds are not treated or enhanced to get their color, they are found below the earth’s surface with their natural blue coloring.

Blue diamonds are found only in a few mines in the world: the Cullinan mine in South Africa, the Argyle Mine in Australia, and the Golconda mine in India. The carat weight and intensity of the blue color dictate how much a blue diamond is worth.

Blue diamonds are rarer and more expensive than every other fancy color diamond—except for red diamonds.

The strength of a diamond’s color is referred to as the color intensity level. Each Fancy diamond has different intensity levels by which it’s evaluated. For blue diamonds, the grading scale includes Faint Blue, Very Light Blue, Light Blue, Fancy Light Blue, Fancy Blue, Fancy Intense Blue, Fancy Vivid Blue, and Fancy Deep Blue. Fancy Dark is also a possibility if a secondary color is present.

Famous Blues

The Farnese Blue A 6.16-carat fancy dark grey-blue diamond which has subsequently passed down through four of the most important royal families in Europe: Spain, France, Italy, and Austria – appeared on the market for the first time in May 2018. Having traveled around Europe for three centuries, the stone was hidden away in a royal jewelry box. Except for close relatives, and of course the family jewelers, no one knew about its existence.

De Beers Millennium Jewel 4 To celebrate the Millennium in 2000, De Beers, together with The Steinmetz Group, showcased an exceptional collection of eleven important blue diamonds, the De Beers Millennium Jewels, in a specially designed exhibit at London’s Millennium Dome. Offered for sale from an Asian private collection, this rare and internally flawless 10.10-carat blue diamond is the largest oval-shaped fancy vivid blue diamond ever to appear at auction and was the most expensive diamond ever sold in Hong Kong before the CTF Pink Star in April 2017.

The Blue Moon of Josephine Smashing all records, the Blue Moon Diamond, renamed The Blue Moon of Josephine, sold in November 2015 at Sotheby’s Geneva for over $4 million per carat – the world auction price-per-carat record for a diamond or gemstone. “After seeing the stone’s color and understanding its significance, it was fitting to name it the Blue Moon Diamond,” noted Suzette Gomes, CEO of Cora International. “Not only its shape is reminiscent of a full moon," she said of the cushion-shaped fancy vivid blue 12.03-carat diamond, “but the metaphor for the expression is exactly what one could say about the occurrence and existence of such a gemstone.”

The Zoe Diamond In the November 2014 sale of the Collection of Mrs. Paul Mellon, collectors eagerly vied for jewelry and objects of vertu that evoked her celebrated style. After 20 minutes of competitive bidding, Mrs. Mellon’s magnificent and rare 9.75-carat fancy vivid blue diamond pendant sold for more than double its high estimate, driving the 98%-sold auction total to $218 million. It was renamed The Zoe Diamond.

The Hope Diamond The Hope Diamond is the world's most famous blue diamond. It weighs 45.52 carats and is on display at the National Museum of Natural History in Washington, D.C. The Hope Diamond has a Fancy Dark grayish blue color. This photograph shows the depth of the blue color. Photograph from the archives of the Smithsonian Institution. When it was donated to the Smithsonian by Harry Winston in 1958, he sent it via Registered Mail. This diamond is obviously priceless but often given a value of $250 million.

The Heart of Eternity Diamond The Heart of Eternity was discovered in the Premier Diamond Mine in South Africa and cut by the Steinmetz Group for De Beers. The gem was unveiled in January 2000 as part of the De Beers Millennium Jewels collection at London’s Millennium Dome and was later shown at the Smithsonian. In a private collection, if it were offered at auction, the estimate would be more than $3 million per carat, or $80 million.

Wittelsbach-Graff The Wittelsbach, also known as Der Blaue Wittelsbacher, was mounted on the crown of the King of Bavaria until 1918. Maria Amalia of Austria's bridal portrait shows the large blue diamond as the centerpiece in her hair ornament. Detail from a painting by Frans van Stampart, 1722. The large blue diamond broke records when Laurence Graff bought it for $23.4 million in 2008. He promptly recut it from 35.56 carats to improve its brilliance and color.

Oppenheimer Blue

The diamond was named in honor of its previous owner, Sir Philip Oppenheimer, the racehorse owner whose family controlled the De Beers Group. At 14.62 carats the Oppenheimer Blue is the largest Fancy Vivid Blue diamond ever to appear at auction, and on May 18th, 2016, at the Four Seasons Hotel des Bergues in Geneva, it set a world record for any jewel when it sold for $57.5 million.

If you are interested in purchasing or selling fancy color diamonds as an investment, please email Rayah Levy at to discuss your personalized long-term luxury investment asset strategy.

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