Rare pink diamond fetches record-breaking P305m

Friday, November 19, 2010

One of the world's rarest diamonds has sold for a record-breaking P305m (29m), the highest price ever paid for a jewel.

The 24.78-carat "fancy intense pink" diamond was sold to a well-known British dealer at an auction in Geneva.
Bidding at the Sotheby's auction was said to be fierce, and the sale surpassed expectations.

Last sold by a New York jeweller 60 years ago, the gem has been kept in a private collection ever since.
The diamond had been expected to command at least P7m per carat.

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