An extraordinarily rare blue diamond ring is expected to sell for up to £2 million when it goes up for auction in London next month. The jewel, an 8.03 carat Fancy Light Blue diamond, will be part of Elmwood’s Fine Jewellery sale on 1 October. According to auctioneers Elmwood’s, this will be only the third blue diamond weighing over eight carats ever offered at auction in the UK. The ring is being sold by a private collector in Glasgow and is estimated to fetch between £1.5 million and £2 million. The only other blue diamonds of similar size auctioned in the UK were the 70.21 carat "Idol’s Eye," sold by Christie’s in 1865, and the Wittelsbach Diamond, sold by Sotheby’s in 2008. This new diamond, shaped in a pear form, is considered a rare and valuable piece due to its size, color, and clarity. Joe Kendrick, head of sale at Elmwood’s, described the diamond as an "extraordinary rarity" and emphasized its unique place in British auction history. Natural blue diamonds are among the rarest colored diamonds in the world. Their distinctive blue color is caused by trace amounts of boron within the diamond’s crystal structure. Historically, these diamonds were primarily found in India and Brazil, but more recently, they have also been discovered in South Africa’s Cullinan Mine, one of the world's most famous diamond sources. The ring features the blue diamond at its center, surrounded by concentric borders of pink and white diamonds, adding to its visual appeal. According to the auction house, the combination of its size, color, clarity, and elegant pear shape makes this diamond exceptionally compelling. The sale is expected to attract significant interest from collectors and enthusiasts of rare and valuable gemstones.