Nirav Modi's Ainra necklace sells for Rs 13 crore at Christie's

NEW DELHI: A high-value jewellery piece created by Indian designer Nirav Modi was sold at a Christie's auction in Hong Kong this week for Rs 13 crore.

Modi's diamond necklace was first sold at another sale in by the same auction house in 2011. "In the second sale the price has appreciated by 71%," said a statement from Modi's office.

The trademarked Ainra cut took two years to develop for the piece which is made of high-quality pear shaped diamonds weighing 10.02 and 2.66 carats.

"The 10.02 carat diamond has been certified as a Type IIa diamond by GIA (Gemological Institute of America), the most sought after gems in the world due to their exceptional colour and clarity," the statement added.

Modi's jewels are frequently auctioned at international sales organised by Christie's and Sotheby's. Last year a Rs 50 crore neck piece was put under the hammer in Hong Kong.