Rare Blue Diamond Sells For $7.98 Mil

One of the rarest gems in the world, a flawless blue diamond, has sold for US$7.98 million (3.91 million pounds) at a Sotheby's auction in Hong Kong, making it the most expensive gemstone in the world, per carat, sold at auction.

After intense bidding, the 6.04 carat, internally flawless blue diamond fetched $HK61.9 million (3.91 million pounds), or US$1.32 million per carat. The price smashed a 20-year-old record held by the "Hancock Red" -- a red diamond, which fetched US$926,000 per carat at the time, Sotheby's said.

Read the whole story: Reuters