A rare pink diamond that is regarded as one of the most desirable and beautiful in the world was sold for a record 46.16 million dollars on Tuesday.

Sotheby’s had valued the 24.78 carat Fancy Intense Pink diamond mounted on a ring at 27 million to 38 million dollars ahead of the sale in a luxury lakeside hotel.

But intense bidding wiped out the record of over 24 million dollars set during an auction in December 2008 in the sale of a grey-blue diamond Wittelsbach.

An exceptinally rare pink stone is set to break the record for being the world’s most expensive diamond ever.

The pink stone is estimated to be worth $27-38 million when it goes under the hammer on November 16 at Sotheby’s in Geneva

It is classified as ‘fancy intense pink’ – the most perfect pink colour – by the Gemological Institute of America, and is set between shield-shaped diamond shoulders on a silver ring.

A rare, two-stone ring set a new record price per carat for a blue diamond at auction when it sold for $15.7 million to an Asian collector.

The ring features a 9.87 carat colorless triangular-shaped diamond paired with a triangular 10.95 carat “Fancy Vivid” blue diamond, the largest such blue diamond of this cut ever offered at auction.

The jewel had been bought in Rome in 1972 for $1 million, which is the equivalent of about $5 million today, Christie’s auction house said.

Luxury phone maker Gresso introduces its new Luxor Series, which features the Luxor Las Vegas and the Luxor Las Vegas Jackpot.

The Jackpot version flaunts a million dollar price tag along with 180g of solid pure gold, 45.5 k black diamonds and rare African Blackwood.

The Keyboard is also another innovation from the company, every key is made from crystal sapphire polished using diamond tools manually.

To commemorate Snoopy’s 60th anniversary, Hong Kong’s Fine Jewelry Brand, TSL has made a stunning 207 Carat Diamond Snoopy.

The Diamond Snoopy is 5.5 inches tall and is festooned with 9,917 diamonds, 783 black diamonds and 415 rubies.

It took 8 months to complete and its proposed retail price is HK$2,888,880 (US$370,380).

A rare 5.16-carat blue diamond sold at auction for $6.4 million in Hong Kong on Wednesday, confirming Asia’s fast-growing taste for the precious stone.

London’s famed Moussaieff Jewellers paid more than the $5.9 million expected price tag for the pear-shaped stone, the first blue diamond from the celebrated De Beers Millennium Jewels Collection to appear at auction.

The De Beers Millennium Collection, displayed in London’s Millennium Dome in 2000, comprised 12 rare gems and took decades to assemble.

“It’s a bargain and I got it at this price because everyone was asleep,” Moussaieff said in an interview.

Her London-based boutique will change the gem’s mounting and offer the stone “to discerning clients, possibly in Asia,” she said.