Another record has been shattered in the world of precious gems, Bloomberg reports. An oval-cut pink polished diamond fetched more money than any previous gemstone had at auction, $83 million. The sale of the 59.60-carat stone, dubbed the Pink Star, took about five minutes, with bidding starting at the equivalent of $52.5 million and rising in 1 million franc increments.

Beating out bidders who called in over the phone, the eventual purchase price exceeded the old record for a single gem by a full 82%. The old record was held for three years by the 24.78 Graff Pink, which garnered $45.6 million at auction.

After being mined in Africa by De Beers and cut and polished by Steinmetz Diamonds, the diamond was first seen by the public in Monaco in 2013, when it was worn by model Helena Christensen, according to Bloomberg. The man who conducted the auction for Sotheby's, David Bennett, sung the praises of the Pink Star, noting that even the crown jewels of the British royal family did not include a stone of this size or color.