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Huge yellow diamond fetches record price at auction

Anja Niedringhaus / AP

The 110.03 carats Sun-Drop Diamond.

AP reports:

GENEVA — The Sun-Drop Diamond of South Africa, a giant pear-shaped yellow gem weighing 110.3 carats, has sold for more than $10.9 million at auction Tuesday, beating previous records for a jewel of its type.

Including commission the unidentified telephone bidder paid almost $12.4 million for the gem, putting it within the $11 million to $15 million range Sotheby's had estimated before the sale. Read the full story.