Bloomberg – Southeby’s sold an 8.74 carat fancy intense blue emerald shaped diamond of VVS1 clarity for HK$43.8 million ($5.7 million) at its recent Magnificent Jewels & Jadeite Sales in Hong Kong.

The hammer price set a new record for a diamond sold at auction in Asia. The strong prices achieved at the auction for special diamonds illustrates the continued strength in the market for these goods following on from other record diamond prices reached over the last few months on the auction market.

Other diamond items of note sold at the auction included a 28.88 carat D color internally flawless loose diamond which sold for HK$36.5 million ($4.75 million) and an 18.71 carat D color internally flawless emerald-cut diamond ring which sold for HK$17.46 million ($2.3 million).