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Saturday, 18 December 2010

Laurence Graff pays £2.5 million a record price for gemstone at auction

Laurence Graff pays £2.5 million a record price for gemstone at auction

Diamond Ring Geneva: A vivid blue 3.7 carat diamond ring, right, sold for just under $5 million (£2.5 million) at auction, becoming the priciest gemstone per carat, Sotheby’s said. The oval-shaped stone – about the size of a pistachio shell – fetched $1.33 million per carat, edging out a similar blue diamond that sold last year in Hong Kong for $1.32 million per carat.

The auction house identified the buyer as the London jeweller Laurence Graff, who is known in the industry as the “King of Diamonds”. The Geneva auction sold more than $57 million worth of diamonds.

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