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Perfect Pink Is Most Expensive Diamond Ever Sold At Auction In Asia

12/1/2010 3:21:59 AM  Simona Kogan

Could this diamond be one of the next celebrity engagement rings? Maybe not. But it sure set a world record.  The expensive gem, classified as the "Perfect Pink" diamond, sold at Christie's in Hong Kong for $23.2 million, a record-breaking price and the most expensive gem ever sold at an auction in Asia.

The anonymous bidder paid 179.9 million Hong Kong dollars for the 14.23 carat diamond.  Rubies and sapphires from Myanmar were also sold to private Asian bidders and in total, auction sales rose to $612.6 million.

The pink diamond was the highest priced diamond in more than 300 pieces of jewelry, jade, and gemstones totaling almost $80 million.

Still, the "Perfect Pink" diamond did not break the record for most expensive diamond ever sold at an auction.  That record is still held by "The Graff Pink", a 24.78 carat diamond bought by jeweler Laurence Graff at a Sotheby's auction in Geneva last month. He renamed it after himself.

"There are no rules.  But there is no point naming a five-carat diamond.  Only the rarest of diamonds [those with the highest color, clarity, and largest size] warrant a name. Whether or not the name takes will depend entirely on whether or not the person behind it has enough clout," said Patti Wong, head of Asia for Sotheby's.

This diamond was one of only 18 pink diamonds to come up for auction in more than 244 years of auctions.

Jewelry experts say this diamond is called the "Perfect Pink" because of its intense color.  They said most pink diamonds exhibit a color modifier of purple, orange, or grey, but this one has no trace of a secondary color.