Giant diamond in necklace sells for $33.7M at Geneva auction

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The largest-ever D-flawless diamond to be put up for auction, mounted in a diamond and emerald necklace, sold for $33.7 million Tuesday night, including buyer's fees.

The 163-carat stone is the centerpiece of an emerald and diamond studded necklace.

This marks "a new world-record price for a D colour diamond at auction", Rahul Kadakia, auctioneer and head of Christie's global jewels division, told AFP.

The necklace, named The Art of de Grisogono, sold for $33.5m - $29.5m plus $4m premium - exceeding pre-sale predictions of $30m.

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Australian diamond company Lucapa, which mined the stone originally measuring over 7 centimeters (2.7 inches) in length, says it was the largest diamond ever discovered in the African nation of Angola. The stone was the largest of its kind ever auctioned.

It has since passed through the hands of famous French jeweller Frederic Boucheron and later the Baron von Derwies.

A flawless 163-carat clear diamond fetched about $US34 million ($49.4 million) at Christie's in Geneva.

The Geneva autumn auction season concludes on Wednesday, when Sotheby's will auction a pink diamond worth as much as US$30 million.