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Flawless 118-carat white diamond the size of an egg

12:34 PM
Flawless: A model holds up the egg-sized diamond which has sold for a record £19million in auction

A white diamond the size of a small egg sold for $30.6 million (£19m) at a Hong Kong auction on Monday night, edging out the previous record for such a stone set just six months ago.
Two phone bidders competed for the 118 carat rock from Africa in six minutes of measured bidding until one dropped out at the Sotheby's jewelry auction, part of fall sales of art and collectibles by the firm and its rivals.
The twice-yearly ritual in the southern Chinese city draws wealthy collectors from mainland China and other Asian countries and has made the city one of the world's busiest auction hubs.

Stunning: The stone, which weighed 299 carats when it was found in the rough in 2011, is the largest and most significant such diamond graded by the Gemological Institute of America

The 'flawless' oval diamond, mined and cut two years ago, was hammered down for 212 million Hong Kong dollars ($27.3 million), just under the low end of the $28 million to $35 million estimate range set by Sotheby's. Total price including commission came to $30.6 million.
That was more than the previous record of $26.7 million for a white diamond, set in May at Christie's in Geneva.

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