Black pearl necklace sold for $1,500 in China

An $11,000 black pearl bracelet has sold for more than $1.5m in China, the latest such luxury sale in the country, as authorities continue to crack down on corruption.

The sale of the necklace was made at a jewellery store in the city of Shenzhen, China’s largest city, by a jeweller known only as “the king”.

It was reportedly sold on the internet to an individual in China’s Shenzhen city for more $11m, the Chinese news site the Global Times reported on Tuesday.

“There is a huge demand in China for the black pearl, it’s a symbol of wealth and power,” a jewellers’ representative told the Global Daily.

“We will see how the sale goes, it is not a public record.

But I can say that it was sold at a major online auction house and that was where it was originally made.”

In a statement, the jewellery firm said the bracelet was made in China in 2004.

“Its original color was black pearl but now we can say it is a black diamond with pearl accents,” the statement read.

The jewellery company did not say how much the bracelet had been sold for.

The ring is made of 18,000 carats of pure gold, the Global News reported, but this is disputed by experts.

The bracelet, which is made out of pure diamond, is currently being sold by a buyer for more then $1m.

It was sold for about $1 in Hong Kong last year.