Picture of vivid blue diamond ring

A vivid blue diamond ring weighing 7.03 carats was sold for a record $9.49 million, the highest price paid per carat for any gemstone at auction. The rectangular-shaped blue stone, the rarest to enter the international market this year, went to an anonymous buyer bidding by telephone after hectic bidding see-sawed between two callers for 15 minutes.

It was the centerpiece of its semi-annual sale in Geneva, conducted by David Bennett, chairman of Sotheby's jewelry department in Europe and the Middle East, who said the results showed the market's resilience despite the economic downturn. "This is already a new world record price for a fancy vivid blue diamond and a new world record per carat for any gemstone (at auction)," Bennett told reporters.
As the new owner of the ring he/she have the right to name the vivid blue diamond ring, which is mounted in a platinum ring.