Rare diamond sells for over $11 million at auction
STORY: It's being called a "flawless" even "perfect" diamond.
A rare 88.22-carat oval diamond was just sold at auction at Sotheby's in Hong Kong.
The diamond comes from a 242-carat rough stone that was discovered in Botswana.
The southern African country provides around 40 percent of the world's diamond supply.
(SOUNDBITE) (English) SOTHEBY'S ASIA ACTING HEAD OF JEWELLERY, YVONNE CHU, SAYING: "This spectacular 88.22-carat oval diamond is perfect in every way.
It's D-colour, the whitest colour for colorless diamonds, flawless, which means there's no inclusions inside or on the surface of the diamond, it's got excellent polish and excellent symmetry, and it's got a superb size of 88 carat, which is extremely rare in nature." The diamond sold in less than 10 minutes at the auction.
And according to Sotheby's, the jewel is just the third oval diamond of more than 50 carats to appear at auction in living memory.