Jaw-Dropping 101.73-Carat Diamond Sells For $26.7Million at Auction

Jaw-Dropping 101.73-Carat Diamond Sells For $26.7Million at Auction

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

Jaw-Dropping 101.73-Carat Diamond Sells For $26.7Million at Auction

The pear-shaped gem, purchased by Harry Winston, accounted for more than a quarter of the $102million in sales rung up by Christie's Wednesday night, a night after Sotheby's had $78million 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 - seemingly a world away from some European countries whose economies are shrinking as their governments enact often tough budget austerity measures to get a handle on their debts.

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