Rare blue diamond expected to reach $32.5 million at auction

A dazzling blue diamond on display in Geneva is expected to fetch A$32.5 million when it goes to auction next week.

Dubbed “the sky blue diamond”, the precious metal weighs 8.01 carats, Euronews reports.

It is mounted on a Cartier ring.

Chairman of Sotheby’s international jewellery division David Bennet said the distinct blue colour is “extremely rare”.

“It seems only less than one percent of blue diamonds submitted to the GIA are graded vivid blue, so it shows you how extremely rare these stones are,” he said.

It will go under the hammer on November 16.