Extraordinary Pink Diamond could fetch $38 million

Thursday, October 7, 2010

Rare Pink Diamond Worth $38 millionA rare and extraordinary pink diamond that goes on sale next month could fetch up to 38 million US dollars, according to auctioneers Sotheby's.

The "fancy intense pink" 24.78 carat gem is being sold by an unidentified private collector, the auction house said.

The diamond was finally sold out by New York jeweller Harry Winston and has a classic emerald cut with gently rounded corners, the company said.

The stone has a blemish unnoticeable to the naked eye, probably due to wear, but may be graded internally flawless after re-polishing.

The diamond went on demonstration worldwide starting in Hong Kong on October 2 and will go up for auction November 16 in Geneva, when Sotheby's estimates it could sell for 27-38 million US dollars.

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