A spectacular and rare orange diamond, the largest known gem of its kind, was on Tuesday auctioned for a record $35.54 million in Geneva.

“It’s a world record price for an orange diamond, it’s a world record price per carat for any coloured diamond,” the Christie’s auction house said.

The price works out at $2.4 million per carat, beating the previous record of $2.15 million for the Vivid Pink Diamond sold in Hong Kong in 2009.

The man who made the purchase swiftly got up and left the room to a round of applause. Christie’s did not reveal his identity.

The deep orange gemstone, found in South Africa, weighs a whopping 14.82 carats. The Gemological Institute of America (GIA) has handed it the top rating for coloured diamonds: “fancy vivid”.

Pure orange diamonds, also known as fire diamonds, are very uncommon and few have been auctioned, with the largest never more than six carats.