A Rare Blue Diamond Valued At $25 Million For Auction This Week

First Posted: Nov 15, 2016 04:10 AM EST

A rare diamond could be sold for $25 million at auction at the Sotheby's Magnificent Jewels and Noble Jewels sale on Nov. 16 in Geneva, Switzerland. It holds an 8.01 karat blue stone referred to as the "Sky Blue Diamond."

Rare "Sky Blue Diamond" goes up for auction this week, could fetch $25 million #CBS4Morning https://t.co/CdPRmtJgtf

— CBS4 Indy (@CBS4Indy) November 14, 2016

CNN reports that this rare diamond is considered one of the largest blue diamonds that is to be sold at auction. This would be the highlight among other 345 rare gems offered by Sotheby's on Thursday. Blue diamonds are indeed rare and the demand for these gems have increased in recent years.

Ultra-Rare $25 Million ‘Sky Blue’ Diamond Hits Auction Block at Sotheby’s https://t.co/4r3pNmpDig #artnews pic.twitter.com/BBX5IZuze8 — Art Riposte (@ArtRiposte) October 24, 2016

Some of the remarkable items that could be yours are a historic 18th century diamond brooch priced between $3 and $5 million. A 17.07 karat rare pink diamond valued at $12.2 million is also for auction.

David Bennet, chairman of Sotheby's jewelry division, described the rare blue diamond as wonderfully clear celestial blue, presented in an extremely elegant square emerald cut. He further said that it would captivate all collectors of exceptional gemstones, as noted by Kuwait Times.

In the catalog of Sotheby's, it says that blue is the color of trust, honesty, loyalty, reliability and responsibility. It is also noted that its idealistic color inspires higher ideals and evoked peace and tranquility.

Meanwhile, the world's largest diamond -- a 14.62 karat gem known as "The Oppenheimer Blur" -- is selling for $57.5 million since May 2016. It is the world's most expensive blue diamond ever.

On the other hand, the one that made headlines was the 12.03 karat blue diamond that was bought by Hong Kong businessman Joseph Lau for $48.4 million in November 2015. This is considered the world's most expensive diamond ever sold.