The rare diamond mined in Russia in 2017 has sold for $24.7m at an auction in Geneva. /Reuters
The diamond weighs 14.83 carats. /Reuters
The value of the gem could even rise further in the future according to experts. /Reuters
A rare diamond mined in Russia that has been described as "a true wonder of nature" has sold for $24.7 million at an auction house in Geneva, Switzerland, on Wednesday.
The diamond, which weighs 14.83 carats, fetched a record price for a gem graded fancy vivid purple pink, according to jewellery expert Benoit Repellin who led the sale.
Named "The Spirit of the Rose" after a ballet performed by the Ballets Russes in 1911, the jewel was cut from the largest pink gem ever found in Russia in 2017.
Bidding started at $17.5 million and it was eventually bought by a telephone bidder, who chose to remain anonymous.
Despite the high price, the gem could increase in value in the future according to Tobias Kormind, the managing director of 77 Diamonds, Europe's largest online diamond jeweller.
"The lucky buyer could well profit from prices soaring for pink diamonds in the coming years thanks to increased rarity," he said.
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