Media playback is unsupported on your device

Rare pink diamond sells for world record price of £29m

17 November 2010 Last updated at 06:47 GMT

One of the world's rarest diamonds has sold for a record-breaking $46 million (£29m), the highest price ever paid for a jewel.

The 24.78-carat "fancy intense pink" diamond was sold to a well-known British dealer at an auction in Geneva.

Bidding at the Sotheby's auction was said to be fierce, and the sale surpassed expectation.

Imogen Foulkes reports.