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The 11.15 carat cushion-shaped Fancy Vivid Pink Internally Flawless diamond has become the second most valuable jewel ever sold in auction at US $57.7 million.

Starting at a bid of HK $140 million the 11.15 carat Williamson Pink Star is the second largest internally flawless, fancy vivid pink diamond to ever appear at auction according to Sotheby’s. The auction house also reports that it is one of the world’s purest, most saturated pink diamonds and was offered as a standalone, single-lot auction on October 7 in Hong Kong. The highly coveted piece was yielded from a 32-carat rough diamond at the Williamson Mine and masterfully cut into a dazzling, cushion-cut which brings out the diamond’s innermost beauty to full display, adds Sotheby’s.

Image from Instagram @sothebysjewels

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Per Sotheby’s on October 7, “Over an intense 20-minute back-and-forth bidding battle, the Williamson Pink Star Diamond—one of the purest, pinkest diamonds ever to appear at auction—sold today for HK $453.2 million / US $57.7 million during our Hong Kong Autumn Evening Auctions.”

Image from Instagram @sothebys

The auction house adds that “not only did the 11.15 carat cushion-shaped Fancy Vivid Pink Internally Flawless diamond establish a new world auction record price per carat for any diamond or gemstone, but it has also become the second most valuable jewel or gemstone ever sold at auction.”

It falls behind the record-breaking 59.60-carat CTF Pink Star. In April of 2017, the piece sold at Sotheby’s for US $71.2 million, still holding the world auction record “for any diamond, gemstone or jewel,” according to the auction house.

Banner photo from Instagram via @sothebys.