A plum-sized, internally-flawless pink diamond rose to $83.2 million at a Sotheby's auction in Geneva Wednesday night. The 59.6-carat gem stole the title of priciest jewelry ever sold at auction from a $46.2 million, 24.78-carat pink diamond once owned by jeweler Harry Winston that sold at Sotheby's in 2010.

The buyer was New York-based diamond cutter Isaac Wolf. He was quick to rename the gem "Pink Dream."

Originally weighing 132 carats, it was polished down to its current weight and first displayed publicly in Monaco in 2003. It is the largest internally flawless pink diamond graded by the Gemological Institute of America.

Earlier in the week, an orange diamond brought $35.5 million—a world record for an orange diamond—at Christie's in Geneva.