The rare and flawless Blue Moon Diamond has sold for $48.4 million to a buyer from Hong Kong, setting a world record for the sale of a gemstone at auction.

The 12.03-carat diamond is said to be among the largest known vivid blue diamonds and was the showpiece sale at Wednesday night's auction at Sotherby's in Geneva.

The blue diamond stone was found in South Africa's famed Cullinan mine in January 2014.

Sotherby's auction house said in a video that the Cullinan mine was the "only reliable sou…
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