The large diamond - the largest in its class ever graded by the Gemological Institute of America - was sold to the city's Chow Tai Fook jewellery chain, AFP reports.
Chinese jewelry behemoth Chow Tai Fook Jewellery was revealed as the buyer of the almost 60-carat stone, edging out two other bidders over the phone. "The price that was made before was not valid", she said, adding they were "very happy" with the result.
Until now, the previous world auction record for a pink diamond was 46.2 million US dollars for the 24.78 carat "The Graff Pink" in 2010. We are very, very confident all three bidders had the financial capability and, of course, the buyer has the financial capability.
In 2013, Isaac Wolf, a diamond cutter in NY, actually tried to buy the special gem for $83 million in Geneva - but he might have overestimated his millions, as he later had to default on the purchase.
The 59.60 carats rock was estimated to have a value of more than $60 million.
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Cutting the diamond took almost two years to complete.
Chow Tai Fook is Asia's most prominent jeweler, operating more than 2,000 stores throughout China.
In a quirk of auction history, the record price for the Pink Star is some $12 million lower than the $83-million offer Sotheby's adjudicated it for in 2013.
The Pink Star is a rare gem - literally.
The previous record for a jewel successfully sold at auction was $57.54 million in May 2016 for the 14.62-carat "Oppenheimer Blue" sold by Christie's in Geneva.
Its predecessor was the Pink Graff, which auctioned in November 2010 for a mere $46.16 million.