Rare blue diamond to be auctioned in Hong Kong
HONG KONG (AFP) - A rare round blue diamond will go under the hammer in Hong Kong in October, with auctioneers hoping the sale will fetch a record-breaking US$19 million (S$24 million) despite fears over the slowing Chinese economy.
Auction house Sotheby's expect the 7.59-carat fancy vivid blue diamond, which is about the size of a shirt button, to set a new record for price-per-carat.
Mr Quek Chin Yeow, Sotheby Asia's deputy chairman, said Hong Kong was the natural venue to sell the gem, known as "The Premier Blue", with collectors expected to fly in from all over the world.
"While there is a slowdown (in Chinese economy), the number of top-level collectors are still there," he told AFP. "We have been selling very well in Hong Kong."