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$21.5 million diamond sets record

Updated Nov. 14, 2012 at 5:09 PM

GENEVA, Switzerland, Nov. 14 (UPI) -- A Swiss auction house said the "Archduke Joseph Diamond" sold for $21.5 million, setting a world record for a colorless diamond.

Christie's Geneva said the 76.02-carat, cushion-shaped diamond, named for Archduke Joseph of Austria, set a world record when it was sold Tuesday for $282,545 per carat at the Four Seasons hotel on behalf of Alfredo Molina, chief executive of Black, Starr & Frost jewelers.

"I am thrilled but not surprised that the Archduke Joseph Diamond should have fetched such a high price," Molina said. "It is considered the finest and largest perfect Golconda diamond ever to appear at auction, with a noble lineage and royal provenance which literally 'Fit for a Queen.' I was blessed to be the Archduke's guardian and champion for the past 13 years, and indeed it has become part of my very identity. I am honored to have worked with Rahul Kadakia and Christie's on this historic sale. I wish the Archduke Joseph Diamond godspeed ... and I know its new owners will delight in its beauty, charisma and mystery as I have for so many happy years."

The auctioneer did not identify the buyer of the jewel.

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