The oval-shaped diamond was bought by Hong Kong-based jewelry retailer Chow Tai Fook for HK$553.04 million after a five-minute contest that included three bidders.
Bid for the stone, which cut past an interval of two years and was discovered by De Beers in a mine in Africa in 1999, started at $56m.
The billionaire dealer Laurence Graff and the prolific diamond collector Joseph Lau are expected to be among potential buyers.
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The previous world auction record for a pink diamond was 46.2 million U.S. dollars for the 24.78 carat Graff Pink in 2010.
"Sotheby's Hong Kong is very proud to have this record", its Asia chairman Patti Wong told AFP, adding this was a new world auction record for any type of jewel.
It exceeded its $60 million estimate but was under the $83.2 million it sold for in 2014, although ultimately the winning bidder from that sale defaulted on payment.
Its refined form is now set to be the most valuable polished diamond ever offered at auction. Tobias Kormind of 77 Diamonds, an online diamond jewelery seller, said he expects it to sell for more than $100 million. That sale collapsed because the buyer, diamond-cutter Isaac Wolf, never paid, and the auction house had to reclaim the stone. If you already subscribe, thank you. Subscriptions can be home delivered in print, or digitally read on almost any mobile device or computer, and start as low as 25¢ per day.