101-carat diamond sells for record $46.2 mn | business | Hindustan Times
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101-carat diamond sells for record $46.2 mn

business Updated: May 29, 2008 15:35 IST

A 101-carat colourless diamond the size of a squash ball sold for a record $46.2 million at Christie's auction in Hong Kong, a radio report said on Thursday.

The gem, the biggest colourless diamond ever sold in Asia and one of only three colourless diamonds over 100 carats sold to date, was bought by a private buyer on Wednesday.

Government-run radio station RTHK said Thursday the buyer's identity was not being revealed but he would have the option to name the diamond, the most expensive single piece of jewellery sold in Asia.

The diamond, which is set in a tiara, was the biggest colourless diamond to come up for auction anywhere in the world for 18 years, according to Christie's.

Diamond prices have boomed in recent years partly because of the economic slowdown, with new buyers from Russia, India and Asia pushing auction prices higher.