The Fortune Pink diamond, an exceptionally rare giant gemstone, was sold to a private Asian collector for more than $28.5 million at an auction in Geneva on Tuesday.

At 18.18 carats, the gemstone is the largest pear-shaped fancy vivid pink diamond ever to go under the hammer, auction house Christie’s said.

The dazzling diamond fetched a hammer price of 24.5 million Swiss francs ($24,615,150), rising to 28,436,500 Swiss francs ($28,570,150), plus the buyer’s premium.

The bidding, which lasted four minutes, started at 17 million Swiss francs and was a three-way battle between telephone bidders, with the winner eventually claiming the gem by increasing the bid by half a million.

The diamond was exhibited in Geneva and then went to New York, Shanghai, Taiwan and Singapore in October before returning to Switzerland.

It was sold at the Magnificent Jewels auction at the Hotel des Bergues as part of Christie’s Luxury Week in Geneva.

The Fortune Pink was valued at $25 to $35 million.

The world record for a pink diamond was set in 2017 when a stone called CTF Pink Star sold in Hong Kong for $71.2 million.