Donald Trump loses bid to buy rare orange diamond after buyer realises ex-President is competition

has been gazumped in his pursuit of a rare $2 million (£1.5 million) pure orange diamond - a gem ironically matching his famous Fanta complexion.

had been made aware the stone was for sale close to his Florida home. According to a source, Trump viewed the 1.14-carat diamond as an investment and began haggling on its price.

However, as the sale was being discussed, another billionaire outbid , taking the gem off the market. The insider told the : "The diamond was a one-off, and as a result, it created a tremendous draw.

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"Donald had expressed his desire to buy it, but when his competition found out it was the former president who was interested, it's fair to say he sped up negotiations. He loved the fact he bought it right from under the president-elect's nose. The orange vibrancy of the diamond was stunning, although it's unclear if Donald was aware of the irony of its colour."

The stone, thought to be mined in Africa, is exceptionally rare. Its unique colour is derived from nitrogen atoms within its crystal structure. According to experts, the particular stone would have shown an unusually intense and vivid orange - qualities that ensured its high value.

Last night, the UK's leading diamond authority, Neil Duttson (corr) of Duttson Rocks (Must Ref), told the Mirror that for such a diamond to be worth $2 million (£1.6 million), it would have been like 'a Picasso'. He said:
"For a diamond of that value, you'd want that stone to be the top of the tree in colour.

"It would have been so pure that it could not have one imperfection. Any collector would want the most vivid orange, and that's extremely important. A hint of any other colour within it would plummet the price.

"To a diamond collector, such a stone is like a Picasso - a work of art. You are buying something so rare that there are very few available. There are probably only a handful on the planet. It sounds like it was a diamond few could afford. Billionaire's bling that is for sure."

Despite the price tag, the gem is cheap compared to the world's most valuable. The Kohinoor Diamond, which translates to "Mountain of Light, is valued at £396 million. Meanwhile, the most expensive ever sold at auction was the Pink Star, which sold for £56.4 million at Sotheby's Hong Kong in 2017.