An enormous oval diamond named the "Pink Promise" was sold Tuesday for an eye-watering US$32.16 million at auction in Hong Kong.
The 14.93-carat pink gemstone went to an unidentified phone bidder as applause filled the room.
Auctioneers Christie's said it was the second highest price per carat paid for a pink diamond, next to the five-carat "Vivid Pink" which sold in Hong Kong for $10.78 million in 2009.
However, the diamond failed to sell at the higher end of the auction house's estimates of up to US$42 million.
"It's a very, very strong price," François Curiel, Christie's Europe and Asia chairman, told AFP after the sale.
"It really shows that Hong Kong is a very important centre for jewellery today."
An ongoing anti-corruption drive in mainland China has done little to dent feverish bidding in Hong Kong's auction houses.
A 1,000-year-old bowl from China's Song Dynasty was sold for $37.7 million in the city last month, breaking the record for Chinese ceramics.
Earlier this year a giant diamond named the "Pink Star" broke the world record for a gemstone sold at auction when it fetched $71.2 million at Sotheby's.