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Huge colorless diamond goes for record $27 million

Fabrice Coffrini / AFP - Getty Images

A flawless clarity diamond weighing 101.73 carats sold at auction Wednesday in Geneva for $26.7 million.

A pear-shaped colorless diamond that is the largest ever offered at auction sold for a record of nearly $27 million in a Geneva auction, where records were also set for the prices of pearls and sapphires, auctioneer Christie's said. 

The 101.73 carat "Winston Legacy" diamond, the centerpiece of the Magnificent Jewels auction, was bought by jewelry and watch firm Harry Winston for 25.9 million Swiss francs -- $26.7 million -- on Wednesday. 

"Harry Winston acquired the most perfect diamond ever offered for sale at auction," said Rahul Kadakia, Head of Jewelry at Christie's Switzerland and Americas.

The diamond was mined in Botswana and cut from a rough stone, weighing 236 carats. It took 21 months to polish, said Christie’s.

The giant, 101-carat, flawless diamond got a record-breaking bid, and a new name, reports CNBC's Simon Hobbs.