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118-carat white diamond fetches record $30mn at auction

Last Updated: Tuesday, October 8, 2013 - 11:51

Johannesburg: A 118.28-carat diamond has smashed a world record by fetching more than 30 million dollars at a Hong Kong auction.

The diamond was sold to a phone bidder at the Sotheby`s auction for 30.6million dollars, while the earlier estimates valued the finest of its kind ever egg-shaped stone at 28-35 million dollars.

According to News24, the stone, dubbed the ` Magnificent Oval Diamond `, was discovered in a deep mine in an undisclosed southern African country in 2011 and weighed 299 carats before being cut.
Described by the auction house as `the largest D colour flawless diamond` beat the record set at a diamond auction last year, when a 101.73-carat diamond was sold for 26.7million dollars.


First Published: Tuesday, October 8, 2013 - 11:51

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