Algerie Soir reports the "Prince Diamond" is one of the largest pink diamonds in the world and traces its origins back to ancient diamond mines in southern India. It allegedly belonged to the Royal Family of Hyderabad, and since 1960 it was owned by the London branch of Van Cleef & Arpels.
The buyer was an anonymous phone bidder who paid $39,323,750 for the gem, which translates to more than $1 million per carat.
Christie's reportedly purchased the diamond for $1.3 million.
Before this sale, the most paid for a diamond at a Christie's auction was $24.3 million for a 31 carat Wittelsbach diamond in 2008.