The sale of a piece of jewellery in New York has broken US auction records for being the most valuable pink diamond ever sold in the country.
The auction at Christie’s in New York saw the nine-carat pink diamond go up for sale along with several other pieces.
While it was expected to achieve a high price, with estimates putting its value at $12 million, the ring was not anticipated to sell for $15.7 million. In doing so, it broke the previous record for the most ever paid for an example of a pink stone at a US auction.
A Belle Epoque cushion cut stone, it once belonged to Huguette M Clark, the daughter of industrialist and US senator William A Clark and had been named the Clark Pink after her.
In total, 305 different items of her jewellery were sold at the auction, including further diamond rings and bracelets.
Pink diamonds are incredibly rare and will often attract high bids as collectors seek to own one of the coveted stones.
A 24-carat pink diamond is owned by the Queen after she was given the impressive stone as a wedding present.
Named the Williamson Pink, the stone was set into a brooch by Cartier to be worn during her coronation.
The brooch is set to go on display this year along with some of the Queen’s other jewels as part of the Diamond Jubilee celebrations.
The Clark Pink is not the only pink diamond that is being sold at auction, as another stone is due to be sold by Christie’s in Hong Kong during May.
Initial estimates put the value of the 12-carat diamond at $10 million.
The ring was named by its last buyer in 1976 as the Martian Diamond, because its purchase coincided with the US launching its first spacecraft to land on Mars.