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The spring auction season for jewelry and watches is upon Geneva, where elegant lakefront hotels fill with well-heeled buyers and bidders in a scene far removed from the debate over European austerity.

Five bidders fueled the price Tuesday at the Sotheby’s sale for the Beau Sancy, a 34.98 carat diamond that had passed among the royal families in France, England, Prussia and the Netherlands.

It was sold by the Royal House of Prussia, the line of descendants that once ruled Prussia.

From wire dispatches and staff reports