Pink diamond sells for more than $50M, setting world record

GENEVA (AP) — Christie's sold the "Pink Legacy" diamond at auction Tuesday for more than $50 million including fees, saying it's a new world record price per carat for a pink diamond.

Christie's said that renowned jeweler Harry Winston was the buyer. The auction house had expected to fetch $30 million to $50 million for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the hammer. 

It was the standout offering at Christie's fall jewelry auction in Geneva. The standing-room only ballroom broke into applause after the auctioneer struck down a hammer price of $44.5 million. That excludes the standard "buyer's premium" and other fees. 

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'Pink Legacy' diamond
FILE - In this Thursday, Nov. 8, 2018 file photo, a Christie's employee displays an 18.96-carat fancy vivid pink diamond during a preview at Christie's in Geneva, Switzerland. Christie's sold the "Pink Legacy" diamond at auction Tuesday, Nov. 13 for more than $50 million including fees, saying it's a new world record price per carat for a pink diamond. Christie's said that renowned jeweler Harry Winston was the buyer. (Martial Trezzini/Keystone via AP, file)
Christie's jewelry department head Rahul Kadakia gestures during the sale of The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by the Oppenheimer family, on November 13, 2018, in Geneva, Switzerland. - The exceptionally rare 19-carat pink diamond has fetched USD 50 million (44 million euros) in Geneva on November 13, 2018, setting a new price-per-carat record for a stone of its kind, auction house Christie's said. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by the Oppenheimer family, is seen after its sale at Christie's auction house on November 13, 2018, in Geneva, Switzerland. - An exceptionally rare 19-carat pink diamond has fetched USD 50 million (44 million euros) in Geneva on November 13, 2018, setting a new price-per-carat record for a stone of its kind, auction house Christie's said. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
A guard stands behind The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by the Oppenheimer family, after its sale at Christie's auction house on November 13, 2018, in Geneva, Switzerland. - An exceptionally rare 19-carat pink diamond has fetched USD 50 million (44 million euros) in Geneva on November 13, 2018, setting a new price-per-carat record for a stone of its kind, auction house Christie's said. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
Christie's jewelry department head Rahul Kadakia gestures during the sale of The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by the Oppenheimer family, on November 13, 2018, in Geneva, Switzerland. - The exceptionally rare 19-carat pink diamond has fetched USD 50 million (44 million euros) in Geneva on November 13, 2018, setting a new price-per-carat record for a stone of its kind, auction house Christie's said. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
TOPSHOT - The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
The Pink Legacy, a 18.96 carat fancy vivid pink diamond once owned by Oppenheimer family is displayed on November 8, 2018 during a press preview ahead of sales by Christie's auction house in Geneva. - The auction will take place in Geneva on November 13, 2018. (Photo by Fabrice COFFRINI / AFP) (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
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The stone once belonged to the Oppenheimer diamond family, and Christie's says it's among the most chemically pure gems.

Rahul Kadakia, Christie's head of international jewelry, said that auction house has only sold four diamonds weighing more than 10 carats of the same color in its 251 years of history.

Christie's sale kicks off two days of jewelry auctions in Geneva. On Wednesday, Sotheby's will auction jewelry once owned by French Queen Marie Antoinette that hadn't been seen in public for 200 years.

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