6.04 Carat Fancy Vivid Blue Diamond Sells for $7.98 Million

The sale, a record per carat price for Sotheby’s at $1,321,590 per carat (p/c), was part of the Magnificent Jewels and Jadeite auction in Hong Kong.

The bidding lasted eight minutes, with seven telephone bidders competing for the rare diamond.

According to Quek Chin Yeow, head of Sotheby’s Hong Kong Jewellery Department, Hong Kong dominates the market at the top end for white and colored diamonds in Asia.

The per carat price exceeded the previous record of $926,000 p/c for the Hancock Red, a 0.90 carat red diamond sold in 1987.