White diamond fetches record £19m at auction in Hong Kong

(AP)

A white diamond the size of a small egg sold for $30.6m (£19m) at an auction on Monday, edging out the previous record for such a stone set just six months ago.

Two phone bidders competed for the 118-carat African diamond in six minutes of measured bidding until one dropped out at the Sotheby’s auction.

The twice-yearly jewellery sales held in Hong Kong draw wealthy collectors from mainland China and other Asian countries and have made the city one of the world’s busiest auction hubs.

The “flawless” oval diamond was mined and cut two years ago.

AP