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"Sun-Drop Diamond" fetches record price

Sun Drop yellow diamond

The worldwide biggest yellow diamond

A huge yellow diamond known as the “Sun-Drop Diamond” sold for 10 million Swiss francs ($10.9m or £6.8m), a world record for a yellow diamond, at auction on Tuesday, Sotheby's said.

Sun Drop yellow diamondThe diamond, the world's largest pear-shaped fancy vivid yellow, weighing 110.03 carats, was the top lot at Sotheby's semi-annual jewellery sale in Geneva which netted a total of $70.17 million.

"I don't really see any crisis here at all. We sold nearly every one of the big diamonds within our expectations," David Bennett, chairman of Sotheby's jewellery department in Europe and the Middle East, told reporters after conducting the sale.

"It proves the resilience of the diamond market in a time of uncertainty," he said.

The second priciest lot was a cushion-shaped white diamond weighing 38.88 carats which sold for 6.34 million Swiss francs or $6.96 million, including the premium paid by the buyer, according to Sotheby's.