A rare pink diamond was bought by Lev Leviev for $10.8 million at a Sotheby's auction in Geneva Tuesday, marking the third-highest auction price ever paid for a pink diamond.

The 10.99-carat emerald-cut stone is classed as a Type IIa diamond and carries a color grade of Fancy Intense Pink.

The diamond, set in a platinum ring, had been part of a private collection and had not appeared on the market in over 30 years.

An historic tiara set with over 500 carats of Colombian pear-shaped emeralds, originally commissioned at the beginning of the 20th century for Countess Katharina von Henckel, sold for $12.8 million – making it the most expensive tiara ever brought under the hammer.

 

In total, the Sotheby's sale realized over $89.5 million, with 90% of the 491 lots sold.