The ‘Pink Star’ is one of the most gorgeous gems in the world. It recently sold for a whopping AUD$94.2 million dollars, which has set the new world record price for any gem sold worldwide.

The gigantic diamond was sold at Sotheby’s in Hong Kong after a very tense five minute bidding war among three people. The crowded room held their breath and waited for the hammer to bang as the ‘Pink Star’ sold for US$63 million, which didn’t include the buyers’ premium. Talk about breaking the bank!

No wonder this beauty sold for so much. The enormous diamond was mined back in 1999 from Africa. This is the second time the diamond has gone on sale, with an attempted sale back in 2013. The ‘Pink Star’  went on sale at Sotheby’s and was sold for a whopping AUD$110 million, but the buyer couldn’t pay up.

However, this time, the company is sure that the buyers can pay the promised amount. Sotheby’s Asia Chairwoman Patti Wong has said expressed her trust in the buyers.

“All three bidders … have a longstanding relationship with the company and we were very, very confident that all three bidders had the financial capability and of course the buyer definitely had the financial capability,” she said. “We’re not worried at all.”

Fingers crossed the local jewellery venders Chow Tai Fook can pay up. It looks promising that they will though, as Sotheby’s had the buyers vetted before they started the three way intense bidding war. They weren’t taking any precautions when it came to selling the diamond this time around.

There’s no word as to what Chow Tai Fook will do with the diamond, but they’re probably keeping their plans for the diamond under wraps. It is, after all, the world’s most expensive diamond.