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The legendary Agra diamond became the most expensive pink diamond in the world when it sold Wednesday to the Siba Rare Jewels Corp. of Hong Kong for $6.959 million at Christie's in London, Christies's announced in New York.

The 32.24 carat Agra was the star of a sale that totalled over $22 million, the most valuable sale of jewelry ever held in London.

The exotic Agra diamond had once been owned by Babur, founder of the Mogul dynasty that ruled India for several hundred years. Babur, "The Tiger Emperor," took possession of the Agra in exchange for the lives of the family of the Rajah of Gwalior, whom Babur defeated in 1526.

The stone is the largest pink diamond ever sold at auction and the seventh largest in the world.

The Agra eclipsed the previous record for a pink diamond of $6.05 million set by Christie's in Geneva in May 1989.

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