World's Rare Red Diamond Ring Sold For $2.77 Million In Auction

World's rare red-diamond studded ring was sold in an auction for $2.77 million in an auction. Interestingly, the piece was bought by Dubai-based Tiara Gems and Jewellery run by an Indian emigrant Ashish Vijay Jain. The 1.05-carat diamond with a VS2 clarity was sold for the whopping value due to its unique colour. Calling it as an "investment opportunity", Ashish said, "There will always be interest for rare stones."