The 11.28-carat Infinite Blue diamond fell short of its low estimate at a one-off Sotheby’s Hong Kong auction, garnering $25.3 million.

The ring containing the radiant-cut, fancy-vivid-blue diamond had a presale range of $26 million to $37 million at the October 5 sale, Sotheby’s said last week. It opened the municipality’s luxury-sales series, which includes the Magnificent Jewels auction.

Although the final sum was disappointing, it was among the highest auction prices ever achieved for a diamond in Asia, and the third-highest for a blue diamond there, Sotheby’s noted.

The Infinite Blue’s price “attests to the resilient demand for top-quality colored diamonds among global collectors,” said Wenhao Yu, the auction house’s chairman of jewelry and watches for Asia.

Image: The Infinite Blue diamond ring. (Sotheby’s)