Blue diamond fetches $8.4 million!

A rare blue diamond fetched a world record 9.3 million Swiss francs at an auction by Sotheby's in Geneva. The gem weighing 7.03 carats was sold to an unknown bidder.

A rare blue diamond fetched a world record 9.3 million Swiss francs ($8.4 million) at an auction by Sotheby's in Geneva on Tuesday.

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The cut and polished gem weighing 7.03 carats was sold by Cullinan Mine in South Africa to an as yet unknown telephone bidder, who will also pay a buyer's premium.

The diamond was cut from an original blue diamond of 26.58 carats and was naturally coloured and internally flawless, Sotheby's said.