'Oppenheimer Blue' diamond sells for $70 million, setting new record

A dazzling blue diamond once owned by mining magnate Philip Oppenheimer was sold for a record $70 million (US$50.6 million) at auction in Geneva, auction house Christie's said.

The 14.62-carat "Oppenheimer Blue" is the largest stone in the exceptionally rare Fancy Vivid Blue category ever to go under the hammer, according to Christie's.

The anonymous buyer will have to part with a total of US$57.54 million, all fees and commissions included, a Christie's spokesman said.

The previous record sale for any diamond was US$48.5 million of the 12.03-carat polished "Blue Moon" diamond in Geneva last year.