Rare Pink Diamond sells for 39.3 million

A rare pink diamond once owned by Indian royalty has sold for $39.3 million at a Christies auction in New York City.

The price for the 34.65-carat diamond that sold at Christie's in April 2013 was the second-highest ever for a jewel sold at auction. Both the seller and buyer were anonymous.

The gem titled 'The Princie Diamond' was discovered 300 years ago in the Golconda mines in India. It once belonged to the Nizam of Hyderabad, an Indian prince.

In 1960, the diamond was purchased at auction by the London branch of Van Cleef & Arpels. The rare jewel named 'Princie' earnt its title at a party at the firm's Paris store. It was called Princie in honor of the 14-year-old prince of Baroda, who attended the party with his mother, Maharani Sita Devi.