Ponahalo Diamonds Sold For Over $6 Million

Prices for top-quality, unpolished diamonds may be falling but a pair of big sparklers did quite well at Christie's today. The Ponahalo diamonds, two rectangular cut stones, of approximately 102 and 70 carats brought in a total of $6.16 million. They sold to a Middle Eastern buyer at Christie's in New York. The bids came in anonymously over the telephone but after the buy, the buyer, Mr Amer Radwan of Dubai asked that the auctioneer reveal his name.

A portion of the proceeds from the sale of the Ponahalo diamonds will be donated to Russell Simmons' Diamond Empowerment Fund, benefiting educational programs in Africa.

Gisele Bundchen's jewels also did fairly well. Her yellow diamond ring which had a high estimate of $20,000 went for $30,000.