The legendary Mellon Blue diamond, a dazzling 9.51-carat blue gemstone once owned by American philanthropist and art collector Bunny Mellon, has sold for an impressive $25.6 million at Christie’s Magnificent Jewels auction in Geneva.
The internally flawless gem, mounted in an elegant serpentine ring, fetched 20,525,000 Swiss francs at the event held at the historic Hotel des Bergues, according to AFP. Despite its significant sale value, the price fell short of expectations, marking a more cautious mood in the luxury jewelry market this season.
Described as “an outstanding stone” by Max Fawcett, head of jewelry at Christie’s Geneva, the Mellon Blue represents not only exceptional craftsmanship and beauty but also “a lifestyle of a bygone era — the type only possible with a Gilded Age fortune.”
The diamond’s provenance adds to its allure. Originally owned by Rachel Lambert Mellon, fondly known as Bunny Mellon — a noted horticulturist, philanthropist, and close friend of former U.S. First Lady Jacqueline Kennedy — the gemstone embodies decades of art, elegance, and American high society heritage.
The Mellon Blue last appeared at auction in 2014, shortly after Bunny Mellon’s death, when it sold for over $32 million. This year’s lower price reflects shifting global dynamics in the high-end jewelry market.
According to Tobias Kormind, managing director of 77 Diamonds, “Geopolitical tensions and a weakened Chinese economy that kept many usual buyers away left the room distinctly cautious.” He added that it remains to be seen whether this restraint will influence other major Geneva auctions this season.
The sale precedes Sotheby’s Royal and Noble Jewels auction, also taking place in Geneva, which will feature remarkable pieces of historical and royal significance. Among them is a brooch once seized from Napoleon Bonaparte following his retreat from the Battle of Waterloo in 1815, valued between $150,000 and $250,000, and The Glowing Rose, a rare 10.08-carat pink diamond expected to fetch around $20 million.
With the Mellon Blue now entering a new chapter in its storied history, its latest sale reaffirms Geneva’s status as the epicenter of the world’s most prestigious and exclusive jewelry auctions.
