What makes an 18-million-dollar diamond so dazzling? In the case of this pretty pink gem that sold for exactly US$18.11 million (HK$140.5 million) at a recent Christie’s auction in Geneva, the high price tag stemmed from its rarity, clarity and colour grading.

Weighing 9.14 carats, the pear-shaped diamond has VS2-level clarity, meaning that only an expert would be able to detect minor imperfections while examining it under a microscope with 10x magnification. Succinctly dubbed “The Pink” – or more poetically, “The Light of Memory” – this nearly flawless stone also carries a “fancy vivid pink” rating, which is the highest possible grade for colour intensity.

If that’s not enough to inspire some envy for the anonymous Asian buyer who snapped up this darling diamond, the stone also set a record for the second highest price ever paid at auction for a pink pear-shaped diamond. It pales in comparison only to the 15.38 – carat rock sold last year by competing auction house Sotheby’s – with the hammer coming down on a chart-topping bid of $31.46 million.

But with higher-than-ever demand for flawless coloured gemstones driving prices up, it’s only a matter of time before the next impeccable rock breaks onto the scene and shatters records with its ice-cold aesthetic.