HONG KONG -- A rare pink diamond sold for a record $10.8 million in a Hong Kong auction Tuesday night, proving the market for high-end goods in Asia hasn't lost its luster.Demand exceeded Christie's' expectations. Last week the auction house's department head for jewels, Vickie Sek, predicted the rock would fetch $8 million.
"Vivid Pink," as it's called, is a glittering five-carat stone flanked by two white diamonds and set in a ring by elite jeweler Graff, owned by U.K. billionaire Laurence Graff.
The glamorous diamond toured Singapore, Bangkok, Geneva and Taipei before returning to Hong Kong, where collectors and connoisseurs vied for it at the Convention and Exhibition Center.An anonymous Asian buyer placed the winning bid of $83.5 million Hong Kong dollars via telephone through a Christie's representative, beating out Shanghai millionaire Liu Yuqian, who ranks 196th on Forbes' list of the richest people in mainland China.
It was on the block alongside 250 other gemstones, jades and pieces of jewelry in every color of the rainbow from the likes of Cartier and Van Cleef and Arpels.
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