A 16.08-carat cushion-shaped fancy vivid pink diamond sold for more than $28.5 million, setting a new auction record for any vivid pink diamond at Christie’s Geneva Magnificent Jewels sale Tuesday.

The gem was purchased by a private Asian buyer, who named it “Sweet Josephine,” the auction house said.

In almost 250 years of auction history, only three pure vivid pink diamonds of over ten carats have appeared for sale, the auction house said prior to the sale.

The pink diamond was the top lot of a sale that achieved nearly $109.5 million, with 80 percent sold by lot and 86 percent by value.

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