Will This 12 Carat Diamond Sell For A Record Breaking $55,000,000 USD?

In November Sotheby's is having their Magnificent Jewels and Noble Jewels sale in Geneva on November 11th and this is their most coveted item. The ultra rare "Blue Moon Diamond" is expected to fetch anywhere from $33-$55 Million. Previous jewelry auction sales with Sotheby's have set world records and it seems that people are still infatuated with the rarest of rare.

Photo Credit: AP

The Blue Moon Diamond which has the highest possible colour grade of fancy vivid blue which is a good part of why this stone is expected to sell for so much. The diamond was polished out of a 29.62 carat diamond that was unearthed by Petra Diamonds Ltd at the Cullinan mine in South Africa. Cora International purchased the diamond and took more than six months to get it to where it is now.

While we sell what is considered very expensive jewelry, this rare diamond really separates itself into a whole other class of haute jewelry. If you know of any other amazing jewelry sales or auctions like this one give us a shout and we'll cover it here on the blog.