A dazzling tiara featuring emeralds believed to have belonged to Eugenie, wife of French Emperor Napoleon III, sold for $12.76 million

A dazzling tiara featuring emeralds believed to have belonged to Eugenie, wife of French Emperor Napoleon III, sold for a record 11.28 million Swiss francs ($12.76 million) to an anonymous buyer on Tuesday at Sotheby's.

"It is needless to say a world record price at auction for a tiara," said David Bennett, chairman of Sotheby's Europe and Middle East jewelry department, as he brought down the hammer to applause.

The tiara also set a record at auction for a piece of emerald jewelry, the auction house said in a statement.