THE NASSAK DIAMOND, ONE OF THE WORLD'S LARGEST AND MOST FAMOUS GEMS, FETCHED HALF-A-MILLION DOLLARS AT AN AUCTION HELD IN NEW YORK THIS WEEK. (THURSDAY APRIL 16).

IT TOOK THREE MINUTES AT THE PARK BERNET GALLERIES FOR THE OWNERSHIP OF THE 43 CARAT DIAMOND TO PASS FROM AN ANONYMOUS SELLER TO ITS NEW PROPRIETOR, MR. EDWARD HAD, A CONNECTICUT BUSINESSMAN WHO OPERATES A FLEET OF LORRIES.

BIDDING BEGAN AT 200,000 DOLLARS AND MOVED BRISKLY UP TO THE HALF-MILLION MARK.

THE NEW OWNER SAID HE BOUGHT THE GEM FOR HIS PRIVATE COLLECTION. "I'LL KEEP IT IN A BANK VAULT AND LOOK AT IT AT CHRISTMAS AND EASTER", HE SAID.

THE NASSAK WAS ORIGINALLY SET IN THE EYE OF A HINDU STATUE IN A CAVE TEMPLE AT NASSAK, NEAR BOMBAY. THE STONE WAS STOLEN IN THE 18TH CENTURY, BUT CAME INTO THE HANDS OF THE RULING BRITISH IN 1818. IT WAS SOLD TO THE MARQUESS OF WESTMINSTER IN 1837 FOR $20,000 AND REMAINED IN THE HANDS OF THE WESTMINSTER FAMILY FOR 100 YEARS.