Rare Colourless Diamond Sold

Published on 28/05/08

A colourless diamond the size of a squash ball, with only the slightest of imperfections, has been sold for $6.2 million (£3.3. million) at auction at Christie's, Hong Kong.

The 101.27-carat diamond is believed to be one of the largest colourless diamonds ever auctioned in Asia, according to Reuters.

Only three colourless diamonds over 100 carats have been auctioned in Asia, Christie's told the news agency.

Reuters added that last year, when a 72.22 carat flawless white diamond failed to sell at Sotheby's, Hong Kong, market observers feared that demand for top stones could be falling in view of the world economic uncertainty.

"Naming rights for the gem will be granted to the new owner, whom Christie's would only reveal as a private buyer," its report said.

Perl Auction says buyers are seeking out larger diamonds for jewellery items like diamond pendants, and solitaires for rings and suggested that "even clerical staff have diamond rings".