White diamond sells for record breaking $30 million (USD) at auction

30 million dollars (USD). That's how much this stunning 118 carat white diamond fetched at a Sotheby's auction in Hong Kong this week. The D colored stone set a new world record after a six minute bidding war broke out between two phone buyers.
Auctioneer Quek Chinyouw explains why the stone is so rare. (SOUNDBITE) Quek Chinyouw, Sotheby's Chairman International Jewelry Asia and Auctioneer, saying (English): "Well first of all it is the largest white diamond ever to be at auction and it is also the largest oval diamond ever to be graded by the GIA as a D flawless diamond. And so to have the largest diamond in the world, with naming rights - it is a spectacular stone to be celebrating our 40 years here in Asia at Sotheby's." The previous record for a white diamond was set by Christie's in Geneva in May, when a stone sold for $26.7 million (USD).

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