An anonymous buyer came close to smashing a world auction record by spending £24.1m ($32m) on a diamond known as the Pink Promise.
The 14.93 carat jewel was sold to a private collector at auctioneer Christie’s autumn sale in Hong Kong on Tuesday.
At £1.6m ($2.14m) per carat, it is the second most expensive pink diamond ever.
Rahul Kadakia, Christie’s International Head of Jewellery, said it boasted a number of desirable characteristics that ensured it could attract such a high bid.
“The colour of the stone was at the very top end of the pink diamonds,” he said.
“The size was very important, almost 15 carat, so you have an important size, a top colour, absolutely clean stone and beautifully cut. So all of those elements together factored into the perfect masterpiece helped us achieve this price.”
The record price per carat for pink diamonds was set in Geneva in November 2010, where one weighing in at 24.78 carat sold for more than $46m, while the overall price per carat record is held by the 12.03 carat Blue Moon of Josephine, which went for $48.5m in Hong Kong in November 2015.
Hong Kong was also the scene of the world’s most expensive auctioned pink diamond, which sold for more than $71m in April.
That price tag also made it the most expensive jewel of any type to be sold at auction, beating the $50.6m fetched by the Oppenheimer Blue in May last year.