101-Carat Diamond Sold for $26.7M

Wednesday, May 15, 2013  |  Updated 2:48 PM PDT
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101-Carat Diamond Sold for $26.7M

ASSOCIATED PRESS

A Christie's employee displays the largest color flawless diamond, weighing 101.73 carats, during a preview at Christie's auction house in Geneva, Switzerland, Tuesday, April 30, 2013.

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A huge diamond unearthed in Botswana commanded an unearthly price of $26.7 million from Christie's auction house Wednesday amid the spring ritual of well-heeled bidders flocking or phoning in to Geneva's luxury sales.

The pear-shaped gem accounted for more than a quarter of the $102 million in sales rung up by Christie's Wednesday night, a night after Sotheby's had $78 million in sales.

"A perfect diamond commands a perfect price," Christie's trumpeted on Twitter of the record sale price for the largest D-color flawless diamond ever offered at auction -- a whopping 101.73 carats that took 21 months to polish.

Jewelry, watches and other luxury items are sold every spring by the big auction houses at Geneva's elegant lakefront hotels.

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