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Largest diamond ever auctioned sold for record US$34m in Geneva

15 November 2017

Geneva - A flawless 163-carat clear diamond fetched $34m (approximately R487m) at an auction at Christie's in Geneva - but not enough to dispel concerns about the health of the market.

A team of 10 specialists in NY cut the jewel from a rough 404-carat stone discovered in Angola previous year, the biggest diamond ever found in that country.

Another key sale at the auction was a 163 carat flawless D-color emerald-cut diamond necklace, known as "Creation 1", sold for $33,500,000.

This is the largest untreated diamond produced in the country and the 27th largest in the world.

To show the diamond at its best, a team of jewellers has worked for over a year, setting the stone into a necklace containing nearly 6,000 emeralds and over 800 smaller diamonds.

A staff member poses with 'Le Grand Mazarin, ' a legendary 19.07-carat pink diamond, during a preview of Christie's auction sale in Geneva November 8, 2017.

It was the largest of its kind to ever be auctioned.

Unsurprisingly it comes with a hefty price tag.

The gem was named after Cardinal Mazarin, an Italian cardinal and diplomat, as well as a great art collector, who served as chief minister under Louis XIII and Louis XIV, and who bequeathed it and other diamonds to the Sun King in his will. It was the final lot of the auction and sold for $14,463,393.

Largest diamond ever auctioned sold for record US$34m in Geneva