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White diamond fetches $30.6 million

on October 08, 2013 10:10 AM

HONG KONG (AP) — A white diamond the size of a small egg sold for $30.6 million at a Hong Kong auction, although a blue diamond that was the night’s other highlight with a $19 million estimate failed to sell.

Two phone bidders competed for the 118-carat white diamond from Africa in six minutes of measured bidding until one dropped out in the Sotheby’s jewelry auction Monday night, part of fall sales of art and collectibles by the firm and its rivals.

The “flawless” white oval diamond, mined and cut two years ago, was hammered down for $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 in Geneva.

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