The Pink Star diamond sold for $71.2 million US Dollars - and set an all time record as the most expensive jewel ever sold.
Sotheby's auction in Hong Kong sold the 59.6carat gem to a Hong Kong based jewelry retailer Chow Tai Fook after a five minute bidding war.
It was mined by DeBeers in Botswana in 1999 as a 132.5 carat rough diamond and had the highest quality of colour and clarity grades.
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