rare red diamond ring

A rare purplish-red diamond ring has sold for 2.97 million Swiss francs ($2.6 million), setting a world record for a red diamond, Christie's said.

The octagonal shaped purplish red diamond is also the largest ever red diamond offered at an auction. The previous record for a red diamond was a 1.92 carat gem that sold for more than $1.6 million in 2001.