An extremely rare pink diamond has smashed the world record for a jewel sold at auction. British gem collector Laurence Graff paid more than 46 million US Dollars for the precious gem on Tuesday, auctioned-off by Sotheby’s in Geneva. Graff, who bid on the treasure by telephone, calls it the most fabulous diamond he has ever seen and said he is delighted to have bought it. The pink diamond weighs 24.78 carats and is mounted in platinum.