World News Korner

GENEVA — The "Pink Star", a huge flawless pink diamond, was auctioned for 68 million Swiss francs ($73.99 million) in Geneva on Wednesday, a world record price for a gemstone, Sotheby's said.

The oval-shaped diamond, mounted on a ring, weighed in at 59.60 carats. It was bought by a man bidding in the room, who told reporters that he was buying it on behalf of an anonymous person whom he represented.

"Ladies and gentlemen, 68 million is the world record bid for a diamond ever bid and it's right here," Sotheby's David Bennett said to applause as he brought down the hammer in the Geneva salesroom.

Sotheby's said it was still calculating the final price, which will include the buyer's premium.

It was the star lot at Sotheby's semi-annual jewelry sale in Geneva, held in a heavily-guarded hotel showroom, which followed strong Hong Kong auctions last month.

The previous record was held by the "Graff Pink", a 24.78 carat fancy intense pink diamond bought by Laurence Graff, the London-based jeweler known as "The King of Diamonds", in 2010 for 45.44 million Swiss francs ($45.75 million at the time).