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White diamond sells for record $27.3m in Hong Kong

7 October 2013 Last updated at 16:17 BST

A white diamond the size of a small egg has sold for $30.8m (£19.1m) at an auction in Hong Kong.

A phone bidder bought the 118-carat rock, edging out a previous price record for a white diamond of $26.7m.

Hong Kong has become one of the world's biggest auction hubs thanks to rising numbers of wealthy collectors from mainland China and other Asian countries.

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