Bulgari blue diamond ring expected to fetch up to 800k as it goes on sale

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Boasting one of the rarest stones in the world, a unique blue diamond ring by Bulgari will be seen at auction for the first time today.

Expected to fetch up to 800,000 the eye-catching accessory was commissioned by the luxury jewellery house in the mid 1960s.

Coming from a private European collector the diamond and blue diamond ring has the highest estimate of all items included in the sale held at Bonham's.

Prize lot: The rare blue diamond Bulgari piece, dated circa 1960, is anticipated to fetch up to 800,000 pounds at auction today

Bulgari's designs have been coveted for decades since it was founded in Rome in 1884 and Richard Burton is alleged to have claimed that the brand name was the only word his jewellery obsessed wife Elizabeth Taylor knew in Italian.

Obliquely-set with a pear-shaped diamond, weighing 3.93 carats and a pear-shaped fancy vivid blue diamond, weighing 3.78 carats the ring is size L.

Only one in about 10 bl! ue diamo nds of this size has a colour pure enough to qualify as fancy vivid

Bulgari fan: Elizabeth Taylor

Only one in about 10 blue diamonds of this size has a colour pure enough to qualify as fancy vivid.

Jean Ghika, Director of jewellery at Bonham's said: 'Not only is this jewel an exquisite example of Bulgari's craftsmanship at this period but the fancy vivid blue diamond is an incredibly rare gem in its own right.'

Thepiece was commissioned by the private collector's father as a gift to his wife during the 1960s, when the luxury label was at the height of fashion and innovation.

Lastyear another blue diamond ring made by Bulgari in the 1970s set a record price selling at a New York auction house for 886,000 per carat,making it the top seller in the Christie's sale which featured over 450items.

Diamond prices have remained relatively stable during the economic downturn, making them a good hedge for investors.

Industryexpert Martin Rapaport said: 'I think that over the long term there will be a strong appreciation of diamond prices based on increasing luxury demand from India, China and the Pacific Rim.'

There are 200 lot items in the Bonham's Fine Jewellery auction this afternoon including pieces from Cartier, Harry Winston and Tiffany & Co.


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