A new world auction record for any diamond of any colour was set Wednesday when the sensational Blue Moon Diamond sold for CHF 48.6 million ($48.5 million) (over $4 million per carat) at Sotheby’s in Geneva (estimate: $35-55m). Among the world’s largest known fancy vivid blue diamonds, the exquisite stone weighing 12.03 carats, boasts internally flawless clarity and truly outstanding colour. The prior auction record for any diamond had been held by The Graff Pink (24.78 carats), which sold for US$46.2 million at Sotheby’s Geneva in 2010.

The exceptional result for The Blue Moon Diamond importantly marks a new auction record price-per-carat for any diamond – far surpassing the benchmark established just last year at Sotheby’s New York byThe Zoe Diamond ($3.3 million per carat) – as well as a new auction record price for any jewel – a title also formerly held by The Graff Pink.

The Blue Moon Diamond was the star lot in today’s CHF 139.6 million (US$139 million) Magnificent Jewels and Noble Jewels sale falling just short of the record total for any jewellery auction set at Sotheby’s in Geneva in May 2015. The sale was further highlighted by a Superb Fancy Vivid Purple-Pink Diamond Ring, which sold for CHF 13.9 million ($13.9 million), an auction record for a fancy vivid pink diamond.

The performance of sapphires throughout the evening certainly bolstered the sale’s total. A Very Fine Sapphire and Diamond Ring more than doubled its presale high estimate, finally selling for CHF 3.2 million ($3.2 million). A Ruby, Sapphire and Diamond Bar Brooch, Monture Van Cleef & Arpels also soared past presale expectations, sellig for CHF 2.5 million ($2.5 million), nearly five times its low estimate.

An Important seed pearl and diamond tiara, Cartier, circa 1909 sold for CHF 802,000 ($ 799,265), nearly doubling its presale high estimate. The tiara, commissioned for Lady Allan by her husband, Sir Hugh Allan, survived the famed sinking of the RMS Lusitania along with its owner in 1915.