Pink diamond sells for record $46 million

A rare pink diamond smashed the world record for a jewel at an auction on Tuesday, selling for more than $46 million to a well-known gem dealer.

London jeweler Laurence Graff paid $46,158,674, for the 24.78-carat "fancy intense pink" diamond, which he immediately named "The Graff Pink."

"It is the most fabulous diamond I've seen in the history of my career and I'm delighted to have bought it," Graff said in a statement released by auction house Sotheby's, which offered the stone at its Geneva sale.

Image: A screen at Sotheby's auction displays the final bid.

Text and Images: AP (Any unauthorised reproduction is strictly prohibited)