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A stunning 59.6 carat diamond known as the "Pink Star" sold for $71.2 million at a Sotheby's auction Tuesday in Hong Kong, setting a new world record for any diamond or jewel, according to the auction house. The oval mixed-cut diamond smashed the $60 million pre-sale estimate set by Sotheby's when it went on the block.The striking gem is the largest flawless fancy vivid pink diamond ever graded by the Gemological Institute of America.Until now, the most expensive diamond ever sold at auction was the "Oppenheimer Blue," which fetched 56.8 million Swiss francs (then $57.6 million) last May.The previous world auction record for a pink diamond was $46.2 million for the 24.78 carat "Graff Pink" in 2010 .
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