Sotheby’s is preparing to conduct a preview exhibit of a rare fancy vivid blue internally flawless diamond sourced from the Cullinan diamond mine. The presentation is scheduled to be held on 27th April 2009 at the Sotheby’s New Bond Street galleries, 34-35 New Bond Street, London W1. The diamond is credited as one of the most important blue diamonds ever to be offered for sale by Sotheby’s and is estimated to be worth £3.9-5.8 million ($5.8-8.5 million) carrying a weight of 7.03 carats.

As rare as they are known to be, blue diamonds are one of the most envied jewels, amongst others. The Sotheby’s diamond has the highest possible grading – vivid – and it is also internally flawless. It has been cut from 26.58 carat rough discovered in 2008 at Petra Diamonds’ Cullinan diamond mine in South Africa, the world’s most consistently reliable source of blue diamonds.

During the presentation, David Bennett, Chairman of Jewellery, Sotheby’s Europe and the Middle East, Adonis Pouroulis, Chairman, Petra Diamonds, owner of the Cullinan mine and Gary Monnickendam, expert diamond polisher who oversaw the process from rough to polished stone will be present to address the gathering. Sotheby’s is conferring the honour of naming the diamond to its buyer during the auction.

Sotheby’s has also sold another famous diamond from Cullinan: the 69.42 carat polished diamond that Richard Burton gave to Elizabeth Taylor and came to be known as the Taylor Burton diamond.