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Tuesday, October 5, 2010

Pink Diamond Sets Canadian Auction Record


A pink diamond was auctioned for a Canadian record of $2.3 million Sunday in Toronto, according to media reports.

The gem was purchased by an anonymous buyer, possibly an American, via phone during Sunday's auction at the Park Hyatt Hotel in Toronto, The Toronto Star reported Monday. The gem, with a clarity rating of VS2, came from the Argyle mine in Australia, which is known as the world’s largest supplier of pink diamonds.

The sum paid for the diamond, which includes "full naming rights," beat the previous record for an auctioned gem in Canada, $244,000.

The auctioneer, Toronto-based Circa Auctions, said the pink diamond was valued at $2.4 million to $2.9 million before the auction.

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