163-carat diamond sells for nearly $34 million

163-carat diamond sells for nearly $34 million
Posted at 7:03 AM, Nov 15, 2017
and last updated 2017-11-15 02:45:55-05

GENEVA, Switzerland (CNN) - A giant diamond earned a mint at auction.

A necklace featuring a 163-carat clear diamond sold for nearly $34 million at a Christie's auction in Geneva on Tuesday.

The diamond was discovered in Angola. Ten specialists from New York cut the jewel last year.

The necklace features 18 smaller diamonds and two rows of pear-shaped emeralds. Overall, the piece took more than 1,700 hours to create.

Despite the high price tag, some jewelers said it should have sold higher, leading some to fear there may be problems in the diamond market.

The giant diamond was the largest one of its kind to be auctioned.

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