December 26, 2013
Orange Diamond Fetches A 'World Record Price Per Carat' At Auction

A stunning record-breaking orange diamond fetched a massive $35.54 million when it went to auction in Geneva on Tuesday.

The Christie's auction house, which handled the rare colored gem, said about the orange diamond: "It's a world record price for an orange diamond, it's a world record price per carat for any colored diamond."

Adding that purchasing a diamond like this one was similar to buying a Picasso or Van Gogh painting. "It's a tremendous price, a magnificent price," Christie's added.

When broken into more manageable amounts each carat of the diamond is worth around $2.4 million which smashed the previous world record held by the famous pink diamond which was sold in Hong Kong.

The Christie's auction for the orange diamond took place in the lush setting of a Geneva hotel. When the diamond was sold in the room of more than 200 people, the auctioneer exclaimed: "At the back of the hall, 29 million francs ($31.5 million, 23 million euros). Sold!"

The purchaser quickly stood up from his seat and left the crowded room to a round of applause from the people there. The buyer wished to remain anonymous and Christie's didn't divulge his name.

The orange diamond, which weighs 14.82 carats, was found in South Africa and it received the top rating possible for the gem by experts. Orange diamonds are also known as "fire diamonds" and are very rare, only a few have ever made it to auction.

David Warren, the director of Christie's international jewelry department, said about the sale of the diamond: "To have one that's over 14 carats is exceptional. The (gem) was the largest recorded vivid orange diamond in the world".

Due to the anonymity of the man who bought the diamond it is not clear what he intends to do with it or if he is a collector, jeweler or simply loves orange diamonds.