Pink Star diamond breaks record at $83 million

There's a new world record in gemstone sales: $83.2 million for the 59.6 carat Pink Star.

Sold on Wednesday at a Sotheby's action in Geneva, the  internally flawless Pink Star was expected to fetch $60 million.

According to Reuters, the man who bought the ring said he was "buying it on behalf of an anonymous person whom he represented."

The previous record was held by the 24.78-carat Graff Pink, sold in 2010 for $46.2 million.

The ring-mounted Pink Star is the largest flawless pink diamond that the Gemological Institute of America (GIA) has ever graded. It was first shown to the public in 2003 and was later exhibited at the Smithsonian in Washington.

See also: This $60 million diamond is called the ‘Pink Star’ for a reason