Princie Diamond fetches $40m at Christie’s in New York

A close-up view of the historic cushion-cut fancy intense pink diamond, weighing approximately 34.65 carats (EPA)

The Princie Diamond, one of the largest pink diamonds in the world, has been sold at auction for nearly $40m (£26m).

The 34.65 carat diamond was sold to an anonymous collector at Christie’s, New York, making it the most expensive diamond ever sold at auction in America.

The gem, once owned by the royal family of Hyderabad, was discovered 300 years ago in the ancient Golconda mines in South Central India. The jewel was eventually passed down to Nizam of Hyderabad, who was named the world’s richest man by Time magazine in 1937.