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Model Charlene Bonnithon wears the rare Blue Moon Diamond at Sotheby's auction rooms in London.

Blue Diamond Could Be Sold For a Record $55 million

A blue diamond ring called “The Blue Moon”, weighing 12.03 carats and described by experts as internally flawless could sell for a record $55 million (47 million euros).

The Blue Moon diamond, discovered in South Africa in January last year, will be exhibited in Hong Kong, London and New York before its likely purchase at auction in Geneva on November 11.

“The Blue Moon diamond is a simply sensational stone of perfect co lour and purity,” David Bennett, who heads Sotheby’s international jewelry division, said in a statement.

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AP Images/Kirsty Wigglesworth

He added that the immense hype which followed the stone’s discovery “has now been proven to have been totally justified.”

The Gemological Institute of America previously declared the Blue Moon to be “internally flawless.” Categorized as a fancy vivid blue diamond, the Blue Moon is the largest cushion-shaped stone in that category to ever appear at auction.

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In November 2010, a 24.78 carats pink diamond — known as the Graff Pink — sold in Geneva for just over $46 million.