The Sotheby’s Hong Kong Magnificent Jewels and Jadeite sale has generated a total sale of $52.4 million. In the Millennium Jewels Collection, 11 blue diamonds are a group of rare diamonds selected by Andrew Coxon, president of the De Beers Institute of Diamonds, to mark the turn of the millennium. In this sale the gemstone, originally from the De Beers Millennium Collection is one of 11 fancy blue diamonds which expected to sell between US$4.6-5.9m. But, London’s famed Moussaieff Jewellers Ltd.’s founder Alisa Moussaieff paid $6.4 million for this 5.16-carat blue diamond at Sotheby’s Hong Kong. According to report, the diamond was cut and polished by the Steinmetz Diamond Group. It was reported that only one blue diamond of such high caliber can be produced by mine each year.

Alisa Moussaieff said that she was very happy with price. Also, she said that “Well it’s an individual thing and people have got to like it and people have got to see the value in it, but we do see the value and I hope our clients will see the value as well.”

In a press release from De Beers in connection with the sale, Andrew Coxon said that “The timeless beauty of a De Beers-selected Millennium blue diamond will be remembered long after its near record-setting price has been forgotten and Personally, I wish I could have bought it back for De Beers but professionally speaking, I sincerely congratulate the new owners and I am happy that the new owners appreciated this particular De Beers-selected diamond.”

According to the release from Sotheby’s, for a sale category which is conducted by Sotheby’s Hong Kong, Sotheby’s “Magnificent Jewels and Jadeite Spring Sale 2010″ garnered $52.4 million, achieving the highest-ever dollar amount.

Also, at this sale other top selling item is a Diamond rivière necklace which was sold for $6.7 million, expected to sell between $4.1 million to $5.1 million. This diamond necklace is set with 50 D-color, internally flawless brilliant-cut diamonds ranging from 1.50 to 6.55 carats, with a total weight of 107.43 carats.

Last year a Hong Kong property tycoon paid $10.5 million for a seven-carat blue diamond in Geneva in May. But, at an auction in Hong Kong in December a five-carat chickpea-sized vivid pink jewel set a per-carat world record price for a diamond when it fetched $10.8 million.

According to Quek Chin Yeow, head of Sotheby’s Hong Kong jewelry department, “buyers and collectors in the current market are driven by the search for perfection and rarity, proven by the vigorous competition from bidders from across the world and included private collectors and traders”.

Sotheby’s will put another blue diamond up on the auction block at next month in Geneva. According to release, it is a 5.02-carat, pear-shaped fancy vivid blue diamond mounted alongside a 5.42-carat colorless diamond of the same shape. Also, it is expected to fetch between $4 million and $7 million. This diamond will be sold at Sotheby’s “Evening Sale of Magnificent Jewels,” scheduled for May 11 at the Beau-Rivage hotel in Geneva.

See, the video of auction at hongkong When blue diamond sold.