Blue diamond fetches record price

via BBC

A rare blue diamond has sold for a record 10.5 million Swiss francs ($9.5m; £6.2m) at auction in Geneva.

It weighs 7.03 carats, is smaller than a penny piece, and is one of only a handful of blue diamonds in existence.

The anonymous phone bidder has yet to name the gem, mounted on a platinum ring, auctioneers Sotheby’s said.

The diamond was found in Cullinan mine in South Africa last year, and its clarity was graded as flawless – the highest designation.

Auctioneer David Bennett said: “It is a new world record price for a blue diamond.”

It had a pre-sale catalogue estimate of 6.8 million to 10 million francs, excluding commission.