A model poses with a vivid yellow 100.09 carats diamond during an auction preview at Sotheby's in Geneva
A model poses with a vivid yellow 100.09 carats diamond during an auction preview at Sotheby's in Geneva May 7, 2014. This item is expected to reach between CHF 13,250,000 to 22,250,000 (USD 15,000,000 to 25,000,000) when it goes on sale May 13, 2014 in Geneva. REUTERS/Denis Balibouse

The biggest yellow diamond, a 100-carat one, was sold in Geneva for $16.3 million. A private buyer acquired the "Graff Vivid Yellow" at a Geneva jewellery sale in Sotheby's auction house.

Reuters reported that it was a world record for the jewellery auction of a yellow diamond, according to David Bennett, the chairman of Sotheby's Switzerland. Bennett issued a statement on Wednesday, May 14 that the diamond had an "exceptional size and a superb daffodil colour." He called the "Graff Vivid Yellow" a "truly extraordinary diamond with immense presence." The hammer price of the diamond was 12.8 million francs.

Interestingly, the auction expected a much bigger hammer price for the unique diamond. It was expected that the stone would at least reach a hammer price 13.4 million francs. It might even reach a hammer price of 22.3 million francs, expected Sotheby's. The diamond was eventually sold with a price equivalent to $163,331 per carat. The total price of the auctioned stone included "buyer's premium," the commission fees. There was no reason given why the "Graff Vivid Yellow" failed to reach the estimated hammer price.

The previous world record was held by the "Pink Star" in November 2013 when it was sold for around $83 million (76.3 million Swiss francs). The auction was, however, not successful as the buyer failed to pay the amount for the stone. The auction house said in February 2014 that it had acquired the diamond due to a failed transaction.

There was another diamond which got sold in Tuesday's auction. It was a white round diamond weighing 103.46 carats that was also cut by Graff. According to Sotheby's, the stone which was sold for 4.3 million francs was one of the largest brilliant-cut diamonds in the world. "Once again, fine pieces with important provenance were highly sought after," Bennett said.

Another smaller diamond called "The Victory Diamond" was also presented at the auction. The 31.34-carat white diamond was estimated to be sold for around $5-$8 million. However, the stone failed to sell.