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Geneva--The Sun-Drop diamond, a 110.03-carat, fancy vivid yellow, VVS1 pear-shape that was the highlight item of Sotheby’s Magnificent Jewels auction, sold for CHF 11.3 million ($12.3 million) on Tuesday. The exceptional diamond was estimated at $11-$15 million, making the hammer price a disappointment at $111,631.43 per carat.

The diamond industry closely followed the auction, hoping the achieved price of the diamond would signify wide interest in exceptional diamonds. It’s understood that the anonymous owner of the diamond was hoping the diamond would sell for much more than $15 million.

The auction’s results concluded with a number of high value items withdrawn or unsold. Among them are a fancy intense blue, pear-modified brilliant-cut diamond weighing 10.09 carats, estimated at $7.5-$10 million, and a fancy pink step-cut diamond weighing 8.95 carats, estimated at $2.5-$3.5 million.

An item that found a buyer was a 38.88-carat D / FL, cushion-shaped diamond that sold for $6.4 million.

This article first appeared on IDEX Online on Nov. 16.