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Rare pink diamond breaks Japan auction record as soft yen draws bids

Gem fetches $3.3m with Japanese in search of safe haven driving hot market

A pink diamond sold for a record-breaking 530 million yen in Japan in mid-September. (Photo courtesy of Mainichi Auction)

TOKYO -- The highlight of the day was a 6.11-carat pink diamond, weighing about 1.2 grams. Attendees buzzed with excitement when a vivid image of the gem was projected on a white screen.

Bidding started at 300 million yen ($2.01 million at current rates) at this mid-September auction, hosted by Tokyo-based Mainichi Auction. The price quickly went up with a flood of bids coming in, including those tendered online and by phone. The stone ultimately sold for a record-breaking 530 million yen ($3.36 million).

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