World

Yellow Sun-Drop diamond sells for record $10.9m

A rare yellow diamond known as the Sun-Drop has sold at auction for $10.9m, a new world record for a yellow diamond. The pre-sale estimate was for a sale price of between $11m and $15m, but with commission and other fees the buyer will be paying more like $12.3m.

The diamond is technically ‘fancy vivid yellow’, which is the most desirable shade for a yellow diamond. The colour is caused by traces of nitrogen trapped within the stone, which harden over the course of millions of years.

It’s not clear who has bought the diamond or what they’ll do with it, but such a rare diamond only comes up for auction once in a blue (or should that be yellow?) moon, and the insurance costs alone mean that it might not go on public display any time soon.

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