Blue Diamond to Sell for Sky-High $5.8M

5.16-carat flawless 'fancy vivid' hits Hong Kong auction
By Mary Papenfuss,  Newser Staff
Posted Apr 7, 2010 3:44 AM CDT
Blue Diamond to Sell for Sky-High $5.8M
A Sotheby's employee displays a 5.16 carat pear-shaped fancy vivid blue diamond ring on sale today in Hong Kong.   (Getty Images)

An extremely rare, flawless blue diamond ring is going on auction today in Hong Kong and is expected to fetch a shimmering $5.8 million. The 5.16-carat gem is one of 12 diamonds originally from the DeBeers Millennium collection, displayed in London to celebrate the new century. The pear-shaped diamond is the first of the collection to be auctioned and is known as "fancy vivid," the highest grade for a color diamond.
(More De Beers stories.)

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