Wednesday, May 12, 2010

A diamnod sold more than $9.9 million

Some of the world's most exquisite gems have new owners Tuesday after Sotheby's spring auction in Geneva.

The semi-annual sale netted more than $54 million, nearly double the low end of the pre-sale estimate.

The top lot was a blue, cushion shaped diamond ring that weighs seven-point-64 carats, set in a gold and platinum ring.

It sold for more than $9.9 million, double its estimate and a record per carat price for a blue diamond.

Experts suggest the high prices paid at this sale are a sign the international market for gems has recovered from the global economic crisis.

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