‘Magical’ blue diamond sold for $48m

Blue diamond, a polished blue gem diamond discovered last year in South Africa's Cullinan mine, has been auctioned for $48.4m in Geneva Switzerland, according to Sotheby.
The precious mineral was cut from a 29.6-carat diamond which also yielded the Star of Africa blue diamond in the British crown jewels. The cushion-shaped diamond, planted on a ring, was bought by a private collector from Hong Kong.
The sale came after rival auction house Christie's sold a similarly rare 16.08-carat pink diamond for $28.5m.
Two years ago, a diamond, Pink Star; was sold for what is believed to be a record breaking $83m (£52m) - also at a Geneva auction by Sotheby.
Spokesman of Sotheby, David Bennett, described it as "magical", adding: "I've never seen a more beautiful stone.
"The shape, the colour, the purity, it's a magical stone and everybody, I think, who put it on their finger thought so."