Pink Diamond Nets Record $

Dec. 2 (Bloomberg) --

A ring with a pink diamond the size of a chickpea sold last night for a record HK$83.5 million ($10.8 million) at a Hong Kong auction of art, gems and antiques that was fuelled by Chinese buying.

The price paid for the stone was the highest paid for any pink diamond, but more important, the highest per carat for any diamond, regardless of size or color.

The stone, a 5 carat vivid pink cushion shaped diamond was bought and polished by Safdico.

The rough pink diamond weighing 10.77 carats, pictured left, was sourced from the Premier Mine in South Africa.

It was cut and polished at Safdico's factory in New York, by master-cutter Antonio Bianco.

The finished internally flawless, 5.00 carats fancy vivid pink diamond is without doubt one of the rarest and most splendid diamonds the world has ever known.