The 100.09 carat Graff Vivid Yellow, the largest yellow cut precious stone in the world, fetched a record $16.3 million at a Sotheby ' s auction in Geneva.

" With its exceptional size and a superb daffodil color, the Graff Vivid Yellow is a truly extraordinary diamond with immense presence, "Sotheby Switzerland’s David Bennett said in a statement on Wednesday.

The 14.5 million Swiss francs($16.3 million) paid by a private buyer to a private vendor is the highest ever for a yellow diamond. It is still short of what the auction house had expected. Sotheby ' s said it estimated that the stone would be sold for between 13.4 million and 22.3 million francs.

The Graff Vivid Yellow was cut in a cushion shape from a 190 - carat rough stone by New York master cutter, Nino Bianco, and was commissioned by English jeweler, Laurence Graff. It is now mounted as a ring.

The Sotheby ' s auction in Geneva was held at the Hôtel Beau - Rivage on Tuesday and fetched 125.5 million francs($141.2 million) overall. The auction house said the evening set a world record for a jewelry auction.