American News Agency Bloomberg are reporting the bizarre story of a diamond necklace which encompassed a 102.56 carat yellow stone and remained unsold at an auction conducted by Sotheby’s in Hong Kong.

The necklace which is thought to represent the largest diamond of it’s kind was estimated at a massive $9.5m and understandably took centre stage in the forth day of bidding during the five day Autumn sale. The piece was however expected to bring in considerably more than the 9.5m however and some commentators even speculated that the item could fetch as much as ten times this amount!

Much has been mentioned about the global economic crisis which is embracing much of the world’s purchasing powers at the moment, and it is though that this was the main reason why this magnificent item remained unsold.

The necklace was not the only thing which suffered during the day however as the share prices for the world renowned Sotheby’s fell around fourteen percent to plummet to a three year low point.

Confidence remains high that the piece will be successfully sold at auction however with the next showing of the item rumoured to be around New Year time.