A Hong Kong jewellery company, which bought a rare 507-carat rough diamond, is going to sell it to a rich Chinese collector. It is then going to be polished into a large and unblemished gemstone.

The unpolished version was sold for a record breaking $35.3 million on Friday.

Cullinan Heritage diamond, as it is called, was sold through tender selling to Chow Tai Fook Jewellery Company Limited by Miner Petra Diamonds of South Africa.

Telling about the diamond, Chairman of Petra, Adonis Pouroulis said that it was a very special gem. He also told a news agency that there are huge interests involved in the stone. And since it was rare, it was such high priced.

Adoni's views are in line with that of the experts. They believe that the real value of the stone is much higher than its pre-sale value.

The diamond comes from South Africa. The country is the origin of some of the rarest diamonds in the world. 19 of the largest stones have come from the African nation, which is also unpopular for its labor exploitations.