Flawless, 118-carat White Diamond Sells for $30.6 Million

CNBC reported that a flawless, 118-carat white diamond was auctioned by Sotheby’s for $30.6 million, beating the previous white diamond sales record of $26.74 million.

As quoted in the market news:

The 118-carat diamond, about the size of an egg, sold for the low end of its price estimate of $28 million to $38 million. Sotheby’s declined to comment on the buyer or the buyer’s nationality.

Large, collectible diamonds have seen big prices recently as the super rich from emerging markets turn to large jewels as portable stores of wealth.

Click here to read the full CNBC report.