A nearly 10-carat blue diamond was sold at an auction in Switzerland on Tuesday for 20.5 million Swiss francs ($26.6 million).
The diamond, weighing 9.51 carats, is named “Mellon Blue” after the late American arts patron Rachel “Bunny” Mellon.
For decades, the stone – then set as a pendant – was part of Mellon’s private collection.
It was expected to fetch $20-$30 million at the Christie’s auction, which was previously sold in 2014 – the year Mellon died – for $32.6 million, one of the highest prices ever paid for a colored diamond at auction, according to Christie’s.
The house said the stone came in on the estimated range. The final price includes the “buyer’s premium” and other fees.
Max Fawcett, Christie’s global head of jewelry, said the Mellon Blue was unlike the vast majority of other modern gems that have had facets added and been modified to enhance the color.
“When you have great shape and great color, you’re looking at the gem of gems,” he said Friday, noting the stone’s grade of Fancy Vivid Blue and Internally Flawless by the Gemological Institute of America. “That’s what this is.”
The auction was the first installment of two days of jewelry auctions in Geneva.
On Wednesday, rival Sotheby’s is putting up the “Glowing Rose” pink diamond that’s expected to draw bids of around $20 million.
Bunny Mellon was a symbol of elegance and sophistication. In 1961, President John F. Kennedy asked Mellon to redesign the White House Rose Garden, where she created more open space for public ceremonies and introduced American species of plants to the garden.
Elsewhere, in France, Mellon created a landscape design for the home of Hubert de Givenchy, who was a close friend, and assisted with the restoration of the “Potager du Roi” at the Chateau de Versailles.