Sotheby's Blue Diamond Ambitions

The transcript discusses the excitement around Sotheby's upcoming jewel sale in New York, featuring the rare Shirley Temple Blue Diamond. The diamond, originally purchased in 1940 for $7,200, is now estimated to be worth $35 million. The transcript highlights Sotheby's history of selling colored diamonds at high prices and mentions Christie's upcoming auction of a large blue diamond. The discussion includes the impact of celebrity provenance on valuation and the competitive yet complementary nature of the auctions.

What factors contribute to the fluctuating value of diamonds according to the text?

How does Sotheby's view the competition with Christie's upcoming auction of a blue diamond?