Record $229,000 bid for solitaire diamond in NZ

The 4.85 carat solitaire diamond. Photo / Supplied

They say diamonds are forever - and they'd need to be at this price.

A 4.85 carat solitaire diamond sold at auction this week for a New Zealand record $229,000.

The stone was sold to a collector at Webb's in Auckland.

Auctioneer Chris Devereaux said excitement built from the $150,000 point, when the contest narrowed down to two eager collectors.

"You could have heard a pin drop. The bidding was very strong. Both of those bidders acquire very special pieces of jewellery."

The two contenders battled it out, raising bids by $5000 each until one relented - but not before they eclipsed the previous record by almost $60,000.

"It's an interesting result given the world economy," Devereaux said. It was also a reflection that diamonds were appreciating in value.

He said Webb's handled a lot of glitzy stones - but this one was a big winner in the "four Cs" department. "That's cut, clarity, carat and colour."

Devereaux said the buyer was a New Zealander who wished to remain anonymous in order to protect his privacy and security.