Most Expensive Diamond

A Sotheby’s auction in Hong Kong just made the record for the world’s most expensive diamond. The diamond in question is of a blue hue and quality cut. It was purchased by Moussaieff Jewellers of London for $7.98 million USD. Weighing in at 6.04 carats, this diamond is worth about $1.32 million USD per carat, thus beating the “Hancock Red” which sold in 1987 for a mere $926,000 per carat. The auction was held on Monday, October 8th, 2007; bidding on the most expensive diamond lasted only 8 minutes and was, reportedly, fierce.

Diamonds were first mined in India and have since become the most coveted gems. Currently, the diamond market is enriched by deposits in Russia, Botswana, Australia and the Democratic Republic of Congo.

The carat measurement refers to the mass of the diamond. When referring to precious gems, a carat is a fifth of a gram. The largest diamond, at 45.52 carats, is the famous Hope Diamond.

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