For the 10th year in a row, jewelry is expected to be the top Valentine’s Day gift category by dollars spent, according to the latest consumer spending survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. Shoppers are projected to spend $7 billion on jewelry for Valentine’s Day 2026 — accounting for nearly one-quarter of all holiday spending and outpacing every other gift category once again.



Overall, Valentine’s Day spending is expected to reach a record-breaking $29.1 billion, surpassing last year’s all-time high of $27.5 billion. On an individual level, consumers plan to spend an average of $199.78, up nearly 6% from the $188.81 reported in 2025 and higher than the previous record set in 2020.



“Valentine’s Day is a cherished holiday that resonates with many Americans, as seen with expected record-breaking spending this year,” said Katherine Cullen, NRF Vice President of Industry and Consumer Insights. “Much of that growth is driven by middle- and high-income shoppers who are expanding their gift lists to include friends, co-workers and even pets in addition to loved ones.”

More than half of consumers (55%) plan to celebrate Valentine’s Day this year. Among those participants, 83% will purchase gifts for a significant other, accounting for $14.5 billion. Gifts for family members, such as children, parents and siblings, are expected to total $4.5 billion, reflecting Valentine’s Day’s continued evolution beyond couples-focused celebrations.

That expansion shows up clearly in other categories. One-third (33%) of consumers plan to buy gifts for friends, contributing $2.4 billion in spending. Another 27% will shop for children’s classmates and teachers ($2.2 billion), while 21% plan to purchase gifts for co-workers ($1.7 billion).

Pets are also playing a growing role in Valentine’s Day spending. A record 35% of consumers plan to buy gifts for their pets this year, with spending projected to reach $2.1 billion, up from $1.7 billion in 2025.



While candy remains the most popular Valentine’s Day gift (56%), followed by greeting cards (41%), flowers (41%) and an evening out (39%), jewelry continues to dominate on a dollar basis. After jewelry’s $7 billion share, spending is expected to reach $6.3 billion on evenings out, $3.5 billion on clothing and $3.1 billion on flowers.

Online shopping remains the top destination (38%), followed by department stores (35%), discount stores (30%) and specialty retailers (21%). Even among those not celebrating Valentine’s Day by buying gifts for others, nearly one-third (31%) still plan to mark the occasion with self-care purchases or social gatherings.

The survey was conducted Jan. 2-8 among 7,791 U.S. adult consumers and carries a margin of error of plus or minus 1.1 percentage points.

Credits: Image by BigStockPhoto.com. Charts courtesy of the National Retail Federation.

Few advertising lines have shaped modern romance quite like “A Diamond Is Forever.” Nearly 80 years after the phrase was coined — and exactly a century after De Beers began redefining how the world sees diamonds — the legendary campaign is being honored in a new coffee table book that traces its cultural impact across generations.



Set for release on January 30, 2026, A Diamond Is Forever: The Making of a Cultural Icon 1926–2026 is published by Assouline in collaboration with De Beers Group. The lavish 240-page volume chronicles 100 years of diamond marketing, spotlighting how a once-elite luxury item became the universal symbol of enduring love.

At the heart of the book is the now-iconic tagline created in 1947 by Frances Gerety, a copywriter at N.W. Ayer & Son. With four simple words — A Diamond Is Forever — Gerety forever altered the diamond narrative, positioning the gemstone not as a fleeting indulgence, but as a permanent promise — one meant to mark life’s most meaningful moments. The slogan would later be named the greatest advertising line of the 20th century.

The book takes the reader on a tour of archival advertisements, rare photography, and commissioned artwork by artists such as Pablo Picasso, Salvador Dalí and Raoul Dufy. Hollywood glamour also plays a starring role, with diamond-drenched appearances by icons, such as Elizabeth Taylor and Marilyn Monroe, whose star power further cemented diamonds as symbols of elegance and aspiration.

Readers will also recognize the moody beauty of De Beers’ influential 1990s “Shadows” campaign, set to the first movement of Karl Jenkins’ "Palladio," which reframed diamonds as timeless, authentic and emotionally resonant for a modern audience. Chapters covering more recent history explore how the diamond conversation has evolved to include provenance, sustainability and ethical stewardship, reflecting changing consumer values while preserving the gemstone’s emotional core.

Publisher Assouline is a luxury house renowned for its high-end illustrated books. The company operates 18 freestanding boutiques worldwide, including Maison Assouline in London, as well as locations in New York, Seoul and other global capitals. It also boasts 30 shop-in-shop partnerships in luxury hotels and department stores.

Retailing for $195, A Diamond Is Forever: The Making of a Cultural Icon 1926–2026 is available at the Assouline retail locations and online via the brand's website.

Credit: Image via assouline.com.

On January 26, 1905, a glint in a South African mine wall changed diamond history forever. Exactly 121 years later, the Cullinan Diamond still dazzles — not just because it remains the largest gem-quality rough diamond ever discovered, but because its origin story includes a few moments so improbable they sound almost fictional.



Weighing 3,106 carats — more than 1.3 pounds and often described as roughly the size of a human heart — the Cullinan’s journey from mine wall to crown jewel is packed with strange twists. Here are three of the oddest.

Oddity No. 1: The Diamond That Got Tossed Out a Window

Perhaps the least-reported tale is also the most shocking. After the stone was removed from the Premier Mine near Pretoria, it made its way to a mine office for inspection. There, a skeptical manager reportedly dismissed it as a worthless chunk of glass or crystal. Diamonds, after all, simply weren’t that big.

So what did he do? According to long-standing lore, he threw it out the window.

Fortunately, a cooler head prevailed. The stone was retrieved, examined more carefully, and confirmed to be the real thing — an absolutely extraordinary diamond that would soon stun the world.

Oddity No. 2: “Who Put That There?”

The Cullinan’s discovery itself was nearly dismissed as a prank. Mine superintendent Frederick Wells spotted the gleaming object while conducting a routine inspection about 18 feet below the surface. At first, he thought someone had embedded a piece of glass into the rock wall as a joke.

Curious, Wells climbed down and pried it loose with a pocketknife. What he held was a crystal-clear, fist-sized diamond of unimaginable proportions. Even then, disbelief lingered — its size defied everything known about diamonds at the time.

Once verified, the stone was named after the mine’s owner, Sir Thomas Cullinan, and quickly became a global sensation.

Oddity No. 3: The World’s Most Famous Diamond… Sent by Mail

When the Cullinan was purchased by the Transvaal government and destined for King Edward VII as a birthday gift, security concerns reached a fever pitch. To thwart thieves, officials staged an elaborate ruse: a fake diamond, guarded by police, was shipped aboard a steamer amid great publicity.

The real Cullinan? It traveled quietly to England in an ordinary parcel sent through the mail.

Both arrived safely — proving that sometimes the simplest solution is the safest.

The story didn’t end there. In 1908, the Cullinan was sent to Amsterdam, where master cutters at I.J. Asscher & Co. undertook the nerve-wracking task of dividing it. The result: nine principal diamonds, 96 smaller stones, and a quantity of polished “ends.”

Among them are the most famous of all — the 530-carat Cullinan I, set in the Sovereign’s Sceptre, and the 317-carat Cullinan II, mounted in the Imperial State Crown — both enduring symbols of diamond history.

Credits: Image of rough Cullinan Diamond by Plate I, The Cullinan (1908)., Public domain, via Wikimedia Commons. Image of mining official holding the rough Cullinan Diamond by National Library of Poland, Public domain, via Wikimedia Commons.

Welcome to Music Friday, when we spotlight songs with jewelry, gemstones or precious metals in the title or lyrics. Today, YouTube phenomenon Vidya Vox blends Indian classical flavor with pop and electronic punch in her 2017 release, “Diamonds.”



From the very first lines, Vox frames fine jewelry as much more than a fashion accessory — it’s identity, confidence, power and passion.

She sings, “Diamonds and gold / Mehndi and bangles / So beautiful / She moves like an angel / Dance like she don’t got a / Care in the world like / Eh le le le le, le le le lo.”

In the official video, Vox leans into that imagery with a head-turning stack of adornment — gold bangles climbing her wrists, statement rings, a dramatic necklace, diamond nose chain and a “tikka” pendant on her forehead. Even "mehndi" — henna designs painted in intricate patterns on the skin — gets its own shout-out, linking beauty to ritual and artistry.

That connection matters because in many Indian families, fine jewelry is part fashion, part inheritance, part financial security. Gold especially carries a special cultural weight: it’s associated with auspiciousness and prosperity, it’s gifted at milestones and it often becomes a wearable family heirloom — passed down with stories attached. So when “Diamonds” spotlights gold and gems in the same breath as movement and charisma, it’s tapping into something deeper than sparkle: jewelry as status, symbolism and belonging.

“Diamonds” also reflects Vox’s bigger story — building a career by turning cultural fusion into a signature sound. Born Vidya Iyer in 1990 and raised in Virginia after immigrating from India as a child, she carved out her lane online, bypassing the traditional label route and growing her audience directly. Her channel now counts about 7.61 million YouTube subscribers, and the “Diamonds” video sits at roughly 41 million views.

Along the way, collaborations — including work with musician/producer Shankar Tucker — helped shape her East-meets-West style, and touring has turned the “YouTube sensation” label into a real-world stage presence.

Please check out the video of Vox performing “Diamonds.” Featured in the video is British singer-songwriter Arjun Coomaraswamy. The lyrics are below if you’d like to sing along…

“Diamonds”
Written by Shankar Tucker and Vidya Vox. Performed by Vidya Vox.

Diamonds and gold
Mehndi and bangles
So beautiful
She moves like an angel
Dance like she don’t gotta
Care in the world like
Eh le le le le, le le le lo

Flames reachin’ high
But can’t touch the fire
Catchin’ her eye
Her burning desire
She know she got it
When she sing her song like
Eh le le le le, le le le lo

Look up at the sky
The stars never shine all alone
Tonight is the night
Take a deep breath
Let it go

Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo

Lost in the night
Your rhythm takes over
Flames in the eyes
Keep drawing him closer
Exotic hypnotic she knows
He’s about to move up on her
She got it, she got it
God knows he can’t hold back no longer
Dancing so close
The temperature’s rising
She just don’t know
How sexy that smile is
She knows she’s got it
When she sings the song like
Eh le le le le, le le le lo.

Look up at the sky
The stars never shine all alone
Tonight is your night
Just take a deep breath
Let it go

Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le, eh le, eh le, lo

No, no, no, no, (Eh le, eh le, eh le, lo)
Girl, you’re one of a kind (Eh le, eh le, eh le, lo)
I know you’re feelin’ the vibe (Eh le, eh le, eh le, lo)
Just give me tonight (Eh le, eh le, eh le, lo)
It’s the way that you smile (Eh le, eh le, eh le, lo)
Baby, I’m losin’ my mind (Shining like gold)
You gotta be mine
Girl, you’re one of a kind
I know you’re feelin’ the vibe
Just give me tonight
It’s the way that you smile (Don’t shine alone)
Baby, I’m losin’ my mind
You gotta be mine
Girl, you’re one of a kind (Shining like gold))
I know you’re feelin’ the vibe
Just give me tonight (Woah)
It’s the way that you smile
Baby, I’m losin’ my mind

Eh le le le le, le le le lo (Let it go)
Eh le le le le, le le le lo (No)
Eh le le le le, le le le lo (Let it go)
Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo
Eh le le le le, le le le lo



Credit: Screen capture via YouTube / Vidya Vox.

Fans of Food Network’s Halloween Baking Championship got an unexpected treat last week when longtime favorites John Henson and Stephanie Boswell revealed they are engaged. The announcement caught viewers off guard, as the pair had quietly kept their romance out of the spotlight — making the surprise all the sweeter for devoted followers of the hit series.



The happy news was shared via Instagram, where both stars posted joyful messages — and, of course, a close-up look at Boswell’s engagement ring. In her post, Boswell held her hand toward the camera to showcase the sparkling piece, captioning the image with her infectious enthusiasm: “YES YES A THOUSAND TIMES YES!!! WE’RE ENGAGED!!!” She added a playful note about bargain wedding dress shopping and dreams of a laid-back backyard celebration, complete with chickens — a glimpse into her warm, down-to-earth personality.



Henson echoed the excitement by sharing the same image on his own page, jokingly asking followers if anyone could recommend a good pastry chef for the wedding cake. He also left a heartfelt comment on Boswell’s post, writing that he has “never felt happier or more at peace,” calling himself “the luckiest man ever.”

Jewelry lovers were quick to zoom in on the ring, which appears to feature an elongated radiant-cut diamond at its center. The striking center stone is flanked by complementary radiant-cut side stones, forming a classic three-stone design set in a white metal — likely platinum or 18-karat white gold. The elongated shape gives the ring a graceful, finger-flattering presence, while the clean lines of the radiant cut deliver eye-catching brilliance.

Beyond its beauty, the three-stone engagement ring carries rich symbolism. Traditionally, the design represents a couple’s past, present, and future — with the side stones honoring shared memories and future dreams, and the center stone symbolizing the strength of the relationship today. It’s a meaningful choice for a couple whose love story has unfolded quietly behind the scenes before stepping into the spotlight.

Henson and Boswell’s connection began professionally on Halloween Baking Championship, where Henson serves as host and Boswell brings her expertise as a judge. Henson, a seasoned television personality and comedian, is also known for hosting Talk Soup and Wipeout, while Boswell has built an impressive culinary résumé with appearances on Next Baking Master: Paris and Spring Baking Championship. Their easy on-screen chemistry has long delighted fans — making their real-life partnership feel like a perfect match.

Credits: Photos via Instagram / realjohnhenson.

In 1945, a routine examination of faceted gems in a Dublin jewelry shop led to the identification of taaffeite — one of the world’s rarest gemstones — after a single mauve-colored “spinel” behaved in ways no trained gemologist would expect.



The story goes something like this: Count Richard Taaffe, an Austrian-born gemologist living in Ireland, was examining a parcel of stones believed to be spinel. One of the gems stood out because it looked like spinel, but it didn’t behave like one. Under magnification, Taaffe noticed something extraordinary: the stone was doubly refractive, bending light in two directions. Spinel, like diamond, is singly refractive.

Intrigued, Taaffe sent the stone to the Laboratory of the London Chamber of Commerce for testing. The verdict was historic. The gem wasn’t spinel at all — it was a previously unknown mineral species, later named taaffeite in his honor. To this day, taaffeite remains the only gemstone ever first identified from a faceted stone, rather than rough crystal.

Chemically, taaffeite is a magnesium aluminum beryllium oxide, placing it in a mineral group closely related to spinel and chrysoberyl. On the Mohs scale, it measures 8 to 8.5, making it durable enough for jewelry, though its rarity means it’s most often reserved for collectors. Taaffeite is prized for its soft yet luminous color range — most commonly lavender, mauve and violet, though pink, red, green, blue and even colorless stones are known.

What truly elevates taaffeite into gem-world legend is its scarcity. It’s often described as millions of times rarer than diamonds, and it belongs to an ultra-exclusive group frequently cited as the three rarest gemstones on Earth: taaffeite, painite and kyawthuite. While painite and kyawthuite may edge it out for the absolute top spot, taaffeite remains one of the rarest gemstones ever used in jewelry.

For decades after its discovery, only a handful of taaffeite specimens were known. Today, gem-quality material comes primarily from Sri Lanka and southern Tanzania, with smaller finds reported in Myanmar, and lower-grade material in China and Russia. Even now, stones are usually discovered mixed in with parcels of spinel, explaining why so many were overlooked for so long.

Prices vary widely based on color and clarity. Lighter stones may trade around $1,500 to $2,500 per carat, while finer, more saturated examples can command $5,000 to $7,500 per carat — and exceptional stones with rich color and eye-clean clarity have sold for $15,000 per carat or more.

For collectors and gem lovers, taaffeite represents the ultimate insider gemstone: rare, beautiful and born from one of the most remarkable accidental discoveries in jewelry history.

Credit: Conceptual illustration of taaffeite by The Jeweler Blog, generated by aichatapp.ai.

To mark what would have been Elvis Presley’s 91st birthday on January 8, renowned New Orleans gallery M.S. Rau Antiques offered for sale two deeply personal pieces of jewelry once worn by the King of Rock ’n’ Roll himself. Together, they trace Elvis’s evolution from a rising star in the 1950s to a Las Vegas legend later in his career — all told through gold, gemstones and remarkable provenance.



The headline piece is a bold 14-karat yellow gold ring set with a vibrant synthetic blue sapphire, worn by Elvis during live performances in the early 1970s. The saturated hue of the stone was especially noticeable under stage lighting, flashing electric blue beneath concert spotlights. Crafted in Elvis’s favored yellow gold, the ring reflected the confident, flamboyant style that defined his later years onstage.



During the summer of 1972, Elvis removed the ring mid-performance, noting that it was slipping from his finger, and handed it to Dave Hebler, his longtime bodyguard and trusted confidant. When Hebler later tried to return it, Elvis famously told him to keep it for good luck — a gesture emblematic of Presley’s generosity toward his inner circle.

The ring is engraved inside the band with the initials “EP” and is accompanied by documentation tracing its journey from Elvis, to Hebler, to the Elvis Presley Museum, and finally to M.S. Rau. It is currently offered for $88,500.



Equally compelling, though quieter in design, is a 10-karat yellow gold ID bracelet worn frequently by Elvis during the mid- to late-1950s, the period when he was redefining popular music and youth culture. The bracelet features a polished ID plate engraved simply with the name “ELVIS.” Unlike his later stage jewelry, this was an everyday piece — a constant presence during rehearsals, performances and appearances as his fame exploded.

As was his habit, Elvis eventually gave the bracelet away, gifting it to Hebler during a meeting at Graceland years later. The bracelet is accompanied by a Letter of Authenticity from the Elvis Presley Museum, the only museum officially licensed by Elvis Presley Enterprises and the Graceland estate to authenticate his personal effects. M.S. Rau is offering the bracelet for $39,850.

Together, the ring and bracelet offer an unusually intimate glimpse into Presley’s life, which ended tragically in August 1977. He was just 42.

Credits: Jewelry images courtesy of M.S. Rau. Elvis Presley publicity photo (cropped) by RCA Records, Public domain, via Wikimedia Commons.

The Perth Mint is celebrating the Chinese Year of the Horse with a limited-edition silver proof coin featuring the zodiac animal rendered in luminous, genuine Australian opal. The Australian Opal Lunar Series 2026 Year of the Horse 1oz Silver Proof Coin continues one of the Mint’s most popular annual traditions, blending precious metal artistry with a gemstone closely associated with the Land Down Under.



At the heart of the design is a vivid opal inlay shaped as a horse, crafted from authentic Australian opal — a gemstone prized for its ever-shifting “play of color.” Australia supplies the overwhelming majority of the world’s opal, and its use here brings movement and vitality to a Chinese symbol long associated with strength, independence, optimism and forward momentum. Because opal forms naturally, no two inlay patterns are exactly alike, making each coin in the limited mintage one of a kind.

Surrounding the opal horse on the reverse side of the coin are stylized marigold motifs, a flower traditionally associated with luck for those born in the Year of the Horse. Additional inscriptions include “YEAR OF THE HORSE,” the Chinese character for horse, the 2026 year-date, the coin’s weight and purity, and The Perth Mint’s iconic “P” mintmark. The coin is struck in proof quality from 99.99% pure silver, offering crisp detail and mirror-like fields.



The obverse features Dan Thorne’s effigy of King Charles III, shown in left-profile relief against a radial sunburst background. The design also confirms the coin’s status as Australian legal tender, with a face value of $1 AUD.

The 2026 release carries added cultural significance as it marks the Year of the Fire Horse, an elemental designation that occurs only once every 60 years. In Chinese tradition, Horse years are associated with energy, progress, and opportunity. The Fire Horse is believed to intensify those traits, symbolizing passion, decisive action, leadership and transformation. It is considered a catalytic year — one that favors creativity, bold movement and breaking free from old patterns, while encouraging balance to avoid impulsiveness.



Each coin is presented in a classic Perth Mint display case with a clear lid, housed in an illustrated shipper and accompanied by a numbered Certificate of Authenticity. With a strictly limited mintage of 6,000 coins worldwide and household limits in place, the release is expected to follow earlier Opal Lunar issues that sold out quickly.

Previous releases in the Australian Opal Lunar Series included the rooster (2017), dog (2018), pig (2019), rat (2020), ox (2021), tiger (2022), rabbit (2023), dragon (2024) and snake (2025).

Credits: Images courtesy of The Perth Mint.

Welcome to Music Friday, our regular feature spotlighting popular tunes with jewelry, gemstones or precious metals in the title or lyrics. In his 1983 song “Pressure Makes Diamonds,” country music legend Don Williams turns a bit of gemological wisdom into a tender meditation on marriage, resilience and enduring love.



At its heart, the song embraces the idea that stress doesn’t necessarily weaken a relationship — it can refine it. Williams sings about a long marriage that has weathered disappointment, disagreement and everyday struggles, yet emerges stronger because of them. The metaphor is especially fitting for jewelry lovers: diamonds don’t form without extraordinary pressure, and neither does a truly lasting personal bond.

Williams delivers the message plainly and powerfully in the song’s central verse: “Pressure makes diamonds much harder than stone / And they only get finer as each day goes on / We’ve been through some bad times / But we made it somehow / ‘Cause if pressure makes diamonds / Our love’s a diamond by now.”

(Gem fact: Most natural diamonds form under intense pressure and heat about 100 miles below the earth’s surface.)

Written by Bob McDill and John Schweers, “Pressure Makes Diamonds” appeared as the seventh track on Williams’ album, Yellow Moon. The album topped out at #12 on the US Billboard Country Albums chart.

Over the course of a career that spanned six decades, Williams scored 17 #1 country hits, including "Tulsa Time," "You're My Best Friend" and "Lord, I Hope This Day Is Good."

With his towering frame and unmistakably gentle bass-baritone, Don Williams became known as the “Gentle Giant” of country music — a nickname that captured both his physical presence and his unassuming, deeply reassuring style. His enduring influence on the genre was formally recognized in 2010, when he was inducted into the Country Music Hall of Fame.

Born Donald Ray Williams in 1939 in Floydada, TX, Williams took a winding path to stardom. After graduating from high school, he served two years in the U.S. Army Security Agency before turning his attention fully to music. In the 1960s, he co-founded the folk-pop group the Pozo-Seco Singers, which enjoyed modest success before disbanding in 1969. A brief detour outside the music business followed, but songwriting soon pulled him back in. In 1971, Williams landed a writing position with Jack Music Inc., a move that quickly led to a solo recording contract with JMI Records and the launch of one of country music’s most quietly successful careers.

Williams continued performing well into his 70s, retiring from touring in 2016. He passed away the following year at age 78, leaving behind a catalog of songs defined by warmth and emotional honesty.

Please check out the audio track of Williams performing “Pressure Makes Diamonds.” The lyrics are below if you’d like to sing along…

“Pressure Makes Diamonds”
Written by Bob McDill and John Schweers. Performed by Don Williams.

Well, we’ve had our troubles, we’ve had our hard times
Where some might have stumbled, we’ve always survived
Sometimes love weakens, when the chips are all down
But what we’ve got together gets stronger somehow.

Pressure makes diamonds much harder than stone
And they only get finer as each day goes on
We’ve been through some bad times
But we made it somehow
‘Cause if pressure makes diamonds,
Our love’s a diamond by now.

Well, we know the feelin’ when the world closes in
We’ve been there before, love, and we might go again
The road may get rocky, life may get hard
But the whole world together can’t tear us apart.

Pressure makes diamonds much harder than stone
And they only get finer as each day goes on
We’ve been through some bad times
But we made it somehow
‘Cause if pressure makes diamonds,
Our love’s a diamond by now.

Pressure makes diamonds much harder than stone
And they only get finer as each day goes on
We’ve been through some bad times
But we made it somehow
‘Cause if pressure makes diamonds,
Our love’s a diamond by now…



Credit: Screen capture via Youtube / Don Williams.

Petra Diamonds has once again reminded the jewelry world why South Africa’s Cullinan Mine holds near-mythic status. On Tuesday, the miner announced the recovery of an extraordinary 41.82-carat blue diamond — a rare Type IIb stone noted for its striking color and clarity.



Even in rough form, the gem is arresting. Its deep, saturated blue hue and apparent transparency place it among the most important blue diamond discoveries of recent years. Petra described the stone as being of “seemingly exceptional quality.”



Blue diamonds are among the rarest of all natural diamonds, with their color caused by trace amounts of boron absorbed deep within the Earth. Type IIb diamonds account for less than half of 1% of all diamonds ever discovered. Many form 300 miles or more below the Earth’s surface, far deeper than most other diamonds, which only adds to their mystique.

What excites collectors and connoisseurs alike is the stone’s potential future. Based on historical recovery rates of around 30 to 40 percent, expert cutters could fashion a polished “hero” diamond weighing approximately 14 to 18 carats. That range is particularly compelling because it aligns closely with the most famous and valuable blue diamonds ever sold at auction.

Among them are the following: the 14.62-carat Oppenheimer Blue, which fetched $57.5 million at Christie’s Geneva in 2016; the 15.10-carat De Beers Blue, sold by Sotheby’s in 2022 for $57.47 million; and the 12.03-carat Blue Moon of Josephine, which achieved $48.5 million in 2015. More recently, the 17.6-carat Bleu Royal brought $43.8 million at Christie’s in 2023. Should Petra’s new discovery yield a polished diamond of comparable size and quality, it could one day join this elite group.

The Cullinan Mine’s legacy only deepens that possibility. The historic deposit (renamed from the Premier Mine in 2003) famously produced the 3,106-carat Cullinan Diamond in 1905 — the largest gem-quality diamond ever discovered — as well as a remarkable lineage of celebrated blue diamonds over the past century. In recent years alone, the mine has yielded multiple high-value blue stones that have gone on to set price-per-carat benchmarks.

Petra Diamonds is currently analyzing the rough stone to determine the optimal cutting strategy and eventual method of sale.

Credits: Images courtesy of Petra Diamonds.