Rare pink diamond sets jewel record with £29m sale

One of the world's rarest diamonds has sold for a record-breaking $46m (£29m), the highest price ever paid for a jewel.

The 24.78-carat "fancy intense pink" diamond was sold at a Sotheby's auction in Geneva to the British dealer Laurence Graff, who bid by telephone

It was last sold by a New York jeweller 60 years ago, and has been in a private collection since.

It had been expected to command at least £625,000 per carat.

The previous record for a jewel at auction was set by a blue 35.56 carat diamond which sold for £15.2m at auction in 2008.