Fancy Vivid Pink 16 Carat Diamond Sells For World Record Price

A 16.08-carat cushion-shaped fancy pink diamond was bought for $28,523,925 at Christie’s in Geneva setting a new world auction record for any pink diamond ever offered at auction.

The stone was bought by a private Asian buyer, who named it just after the auction 'Sweet Josephine.'

The Magnificent Jewels sale on 10 November raised a total of $109,492,525, selling 80 percent by lot and 86 percent by value.

François Curiel, President of Christie's Switzerland, said: “The Geneva sales this week welcomed collectors from all over the world as well as a large number of new clients, registering for the first time in the three categories – wine, watches and jewelry. Each auction saw strong bidding in the room, telephone and via the internet, underlining the importance of this central saleroom location to our global client base for all three departments."