101-carat diamond sells for record $46.2 million

Analysis

A 101-carat colorless diamond the size of a squash ball sold for a record $46.2 million at Christie’s auction in here, a radio report said Thursday.

The gem, the biggest colorless diamond ever sold in Asia and one of only three colorless diamonds over 100 carats sold to date, was bought by a private buyer 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 colorless 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. (The Economic Times)

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