The gem has been sold at Sotheby's in Hong Kong

Oct 8, 2013 12:10 GMT  ·  By

The Sotheby's auction house in Hong Kong has broken records with the sale of the most expensive white diamond identified in legal documents.

The oval, brilliant-cut gem has been measured by the Gemological Institute of America. Sotheby's was able to sell the piece for $30.6 million (€22.5 million).

The price sets a new standard for diamonds that are going to go under the hammer, South China Morning Post reports. The original asking price was set at $28 million (€20.6 million).

The white diamond weighs 118.28 carats, a spokesperson for the action house describes. Its buyer has purchased the piece over the phone and has not released his or her name.

"We are pleased with the response. The venue was packed with interested bidders," Sotheby's officials say in a statement.