A magnificent jewelry set, including a beautiful platinum ring, has sold at Christie's for a staggering $7 million.

The centrepiece of the auction lot was the Baroda Pearls necklace, described as "the most important natural pearl necklace to ever be seen at auction".

The necklace is strung with 68 of the world's largest pearls, all taken from the seven-strand natural pearl necklace that was central to the Royal Treasury of the Maharaja of Baroda. As large as marbles, the pearls are said to have a breathtaking luminous pink glow.

Rahul Kadakia, head of jewelry for Christie's Americas, said of the necklace: "The two-row necklace now comprising 68 of the finest and largest pearls of this superb necklace, encapsulates everything the modern collector could expect from the most important pearl necklace in the world."

An anonymous phone bidder eventually launched the winning offer, and the $7 million will also bring him or her a pair of natural pearl and diamond ear pendants, a brooch and a striking platinum ring.

According to the Associated Press, the platinum ring boasts a button pearl flanked by sparkling diamonds and it would have doubtlessly fetched thousands if auctioned alone.

"Never before has such a supreme example with exceptional provenance appeared at auction," a statement from Christie's observed.

The eager bidders clearly agreed and the atmosphere in the auction house was electric. Christie's will not release any details about the bidder and so it is impossible to know what will happen to the items. It would be a crying shame, given the historic relevance and aesthetic perfection of the jewelry sold, if it remains locked up in a private collection.