pink diamondA 24.8-carat pink diamond was sold in an auction for a $46.2 million on Tuesday, the most money ever paid for a jewel, auction house Sotheby's said in a statement.

London jeweler Laurence Graff bought the diamond and renamed it "The Graff Pink." Sotheby's had previously estimated that the stone would sell for between $27 million and $38 million.

The jewel was on the market for the first time in 60 years, and had been previously owned by Harry Winston.

The previous record price paid for a jewel at an auction was the $24.3 million fetched by the 35.6-carat Wittelsbach Diamond sold in late 2008, Sotheby's said.

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Theresa Milhimes

Hello, I am a foster for Cat Tails Inc. and non profit 501c3 cat rescue and we are in need of donations. We have saved thousands of cats from death row shelters and owner give up and stray cats. We have everyone completely vetted spay/neutered and all shots and testing then we try to find them new loving homes. With the economy bad right now our funding is not good at all and owe more the 50,000.00 out in bills not to include food and other essentials for the care of cats and kittens. Please contact out director Joy Purnell at to donate or ask any other questions. If you can donate tax deductible donation we would be ever so grateful any donation is a blessing Thank you Theresa Foster for cat tails

November 17 2010 at 12:44 AM Report abuse rate up rate down Reply