A rare 25.59-carat Burmese “pigeon blood” ruby sold for a world record $30.33 million at an auction in Geneva on Tuesday. There was strong demand for coloured stones and exceptional natural pearls, Sotheby’s said.

After competitive bidding, the ruby went to an anonymous telephone bidder for 26.25 million Swiss francs (27.3 million euros), with costs.

The “Sunrise Ruby” from Myanmar, part of a collection of Cartier jewels up for auction, had been expected to sell for between $12 and $18 million.

It set a record for a ruby and was also a record for a Cartier jewel at auction, Sotheby’s said.