Rare blue diamond auctioned for $8.4 million

Geneva: A rare 7.03-carat blue diamond has sold for more than $8.4 million at an auction in Geneva.

The buyer will be able to name the diamond, auctioneer Sotheby's said.

The gem, which is smaller than a dime and shaped like a cushion, is one of only a few blue diamonds ever found.

Sotheby's said the gem was discovered last year in South Africa and has been graded highly for its vivid colour and clarity.