Flawless diamond sells for N4.3 billion

A flawless emerald cut, 100-carat diamond has been sold for $22.1m( about N4.3 billion) in New York.

BBC reports that the gem, originally mined by De Beers in South Africa and sold at Sotheby's auction house, New York was snapped up by an anonymous buyer after only three minutes' bidding.

According to the auction house, the diamond had taken more than a year to cut, polish and perfect. Also only six perfect diamonds weighing more than 100 carats have been auctioned in the past 25 years.

Describing the gem, head of Sotheby's jewellery department in New York, Gary Schuler said "the colour is whiter than white, it is free of any internal imperfections and so transparent that I can only compare it to a pool of icy water"

The gem was the highlight of a sale of more than 350 jewels expected to sell for a total of more than $50m (N9.9 billion).

Two years ago, a flawless pink diamond known as the Pink Star set a world record price for a gemstone at auction when it sold for $83m (N16.5 billion) in Geneva.