Oppenheimer diamond made bidding history

ON May 18 in 2016, the Oppenheimer Blue diamond, a key lot in Christie’s Magnificent Jewels auction in Geneva, Switzerland, was bought for Sfr 56 837 000 (more than R808 million at recent exchange rates) making it, at the time, the most expensive jewel in auction history. That season, it was also the most expensive work of art sold on auction.

The diamond was named in honour of its previous owner, the British diamond dealer and racehorse owner, Sir Philip Oppenheimer. He was part of the Oppenheimer family that controlled the De Beers Mining Company and its subsidiary Diamond Trading Company for almost a century. He was a cousin to Harry Oppenheimer, who succeeded as chairman of the company after the death of his father Ernest Oppenheimer in 1957.

As one of the moguls of the diamond industry, Philip had the pick of any diamond and chose the blue one for its perfect hue, impeccable proportions and fabulous rectangular shape.

In recent years, blue diamonds have gained a wide following, not only because their stunning appearance but also because there are so few available.

The Oppenheimer Blue is classified as a “Fancy Vivid Blue” by the Gemological Institute of America, the highest colour grade and colour intensity for blue diamonds. At 14.62 carats, it is the largest Fancy Vivid Blue diamond sold on auction.

“The Oppenheimer Blue is one of the rarest gems in the world,” said Francois Curiel, who has handled many superlative jewels during his long service at Christie’s. “This is the gem of gems.”