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Hope Spinel sets new world record

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There was great excitement around the Bonhams Fine Jewellery sale on Thursday, with the auction of the Hope Spinel, which has not been offered for sale in 98 years. 

The rare and historic gemstone smashed its pre-sale estimate of £150,000-£200,000 as a result of competitive bidding on the phones. It sold for an atonishing £962,500, achieving a new world record price of $30,000 per carat. This gem was bought by a private telephone bidder.