An extremely rare 18-carat diamond known as the ‘Fortune Pink’ was auctioned off for a whopping $28.5 million in Geneva.
The pear-shaped ‘fancy vivid pink’ jewel was won by a private Asian collector.
The auction began with a starting price of 17 million Swiss francs, but a three-way bidding war increased the value of the dazzling gem to $28,570,150 (28,436,500 Swiss francs), including the buyer’s premium, according to the AFP news agency.
The dazzling stone, which is mounted on a ring flanked on either side by a large white diamond, was auctioned off as part of Christie’s Luxury Week sales at the Hotel des Bergues.
Before being auctioned in Geneva, it was put up for exhibition in New York, Shanghai, Taiwan and Singapore.
The Fortune Pink diamond was previously estimated to be worth between $25 million and $35 million.
When the CTF Pink Star went under the hammer in Hong Kong, the highest price paid for a pink diamond was $71.2 million.
Pink diamonds are considered to be one of the rarest gemstones in the world as they are only found in very few locations. It is estimated that fewer than 10 percent of these diamonds weigh more than one-fifth of a carat.