(FILES) This file photo taken on May 12, 2016 in Geneva during a press preview by Christies's auction house shows the 'Oppenheimer Blue,' a rare fancy vivid blue diamond weighing 14.62 carat. / AFP / FABRICE COFFRINI
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A dazzling blue diamond once owned by mining magnate Philip Oppenheimer could fetch a record sale price Wednesday, with auction house Christie's hoping it tops the staggering $48.4 million mark set last year.Sotheby's also sold a blue diamond, weighing 7.32 carats, for $17.1 million.Britain's Sir Philip Oppenheimer (1911-1995) led a powerful cartel called the Central Selling Organization for 45 years, tightly controlling roughly 80 percent of the international diamond trade in a bid to prevent wild price swings.Sotheby's 495-lot auction brought in $171.1 million, with 70 percent of the items selling above their estimated price, the company said in a statement.
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