diamond2A ‘flawless’ white diamond the size of a small egg sold has for a record-setting $30.6 million at Sotheby’s in Hong Kong. The 118-carat white diamond from Africa was discovered in 2011, and originally weighed 299 carats. The $30.6 million price tag tops the $26.7 million for a white diamond in May at Christie’s in Geneva.

The gem is the largest oval D-flawless diamond ever graded by the Gemological Institute of America.

The fact that Sotheby’s auctioned the diamond in Hong Kong reflects the growing influence of the Asian market.