A Jewish man from New York bought a 59.60-carat pink diamond for a record £51 million at an auction in Geneva last night.
It is believed to be the largest sum ever paid for a gemstone.
The buyer, diamond cutter Isaac Wolf, named the flawless, oval-cut diamond “Pink Dream”. It was previously known as the “Pink Star”.
Mr Wolf outbid three other interested parties in the five-minute Sotheby’s auction on Wednesday.
Steinmetz Diamonds, owned by Israeli Beny Steinmetz, cut the stone, which was mined by De Beers in Africa.
The gem was once worn by Danish model Helena Christensen in 2003.
Auctioneer David Bennett said: “The crown jewels of England, which is one of the greatest jewel cases, does not have a diamond this size or this colour.”