Pink diamond outdoes antiques valuation to sell for £29m
An antiques valuation placed on a rare pink diamond was beaten as it sold for £29 million.
A pink diamond has sold for a record £29 million, outdoing its previous antiques valuation.
The item - which was bought for the highest ever price paid for a jewel - was predicted to fetch around £24 million prior to the auction at Sotheby's in Geneva, Switzerland yesterday (November 16th).
It was purchased by Laurence Graff, who bid over the telephone for the 24.78-carat "fancy intense pink" diamond.
Following the sale, he said: "It is the most fabulous diamond I've seen in the history of my career and I'm delighted to have bought it."
David Bennett, the head of Sotheby's jewellery division, confirmed the price was the biggest ever paid for such an item at auction.
This comes after jewels formerly owned by Duchess of Windsor Wallis Simpson were given an antiques valuation of £3 million.
The collection of 20 products is set to go under the hammer on November 30th at Sotheby's in London.
Posted by Lisa Marriott