The 59.6 carat stone, which is internally flawless and cut into an oval shape, sold for $71m (£57m) at Sotheby’s in Hong Kong.
De Beers mined the rare stone back in 1999 in Africa and sold it for $83m in Geneva in 2013, but the buyer later defaulted.
Alexander Breckner, head of diamonds at jewellers ’77 Diamonds’, said to the BBC:
It’s the largest pink diamond ever found in the history of humankind. It’s an incredible colour to it.
And the sheer size of the stone already makes it so rare and so beautiful.
Before now, the record was held by the Oppenheimer Blue diamond which sold for $50m last May after 20 minutes of phone bidding at Christie’s auction house in Geneva.
Before that, a Hong Kong tycoon purchased the cushion-shaped Blue Moon diamond for his seven-year-old daughter. I wouldn’t trust myself with that diamond, let alone a 7-year-old!
I think that’s a little more than three months salary for an engagement ring.