Fortune Pink diamond sells for more than $28.5 million

The Fortune Pink diamond, an exceptionally rare giant gemstone, sold for more than $28.5 million at auction in Geneva to a private Asian customer.

At 18.18 carats, the jewel is the largest pearshaped "fancy vivid pink" diamond ever sold under the hammer, Christie's auction house said.

The dazzling diamond fetched a hammer price of 24.5 million Swiss francs ($24,615,150), rising to 28,436,500 Swiss francs ($28,570,150) with the buyer's premium added on.

The bidding, which lasted for a tense four minutes, started at 17 million Swiss francs and was a three-way battle between telephone bidders, with the winner eventually claiming the gem by upping the bid by half a million.

"The buyer is happy. It's a dream come true," the Christie's employee taking the winning telephone bid told AFP, while maintaining the buyer's anonymity.

The Fortune Pink, mined in Brazil, had been estimated to fetch between $25 million and $35 million.

Christie's noted that the carat weight, 18.18, was considered a lucky number in Asia, where it signifies "definite prosperity", and gave the diamond its name.

"Very aptly it was purchased by an Asian private customer," Rahul Kadakia, Christie's international head of jewellery, told reporters after conducting the sale.

"It's a very select group of customers who are buying at this level.

"I'm very happy that it's gone to a new family who will enjoy it, who will wear it, and I hope it brings them good fortune."

Pink diamonds are only found in a few places and fewer than 10 percent weigh more than one fifth of a carat.