A 59.6-carat pink diamond called 'Pink Star' has been sold for ₹464 crore ($71.2 million), setting the world record for the top auction price for any gem. The diamond was purchased by the world's largest jeweller, Chow Tai Fook, in a five-minute contest. Pink Star auctioned for ₹541 crore ($83 million) in 2013, but the sale collapsed after buyer defaulted.