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Money Ultra-rare pink diamond expected to fetch up to $40 million at auction

01:41  10 november  2017
01:41  10 november  2017 Source:   msn.com

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An extremely rare pink diamond is on display in Hong Kong, and could fetch up to million when it is sold at an auction in Switzerland next month.

The 37.30 carat Raj Pink, the world's largest know fancy intense pink diamond (est. $20-30 million)© Tristan Fewings/Getty Images The 37.30 carat Raj Pink, the world's largest know fancy intense pink diamond (est. $20-30 million) 'The Pink Raj' has been hailed the largest fancy intense pink diamond on the planet.

The 37.30 carat diamond is predicted to become one of the most expensive jewels of its type when it goes under the hammer next Wednesday at the Sotheby’s Magnificent Jewels and Noble Jewels sale.

The rough diamond was mined in 2015 and studied for more than a year before being entrusted to a master cutter who crafted the stone into a modified cushion cut.

The impressive stone has been named as one of the stars of prestigious auction and is predicted to fetch between $26 million and $39 million (AUD).

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Chairman of the auction house's jewellery division said The Pink Raj's stunning colour made it particularly rare, with fewer than 0.02% of diamonds submitted to The Gemological Institute of America (GIA) each year being predominantly pink.

"Pink diamonds have always been among the most collected and most admired because there is nothing more beautiful in the diamond world in some ways than a pink one," chairman David Bennett said.

"As the largest known of its category, it has obviously attracted a lot of attention," he added.

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An extremely rare pink diamond is on display in Hong Kong, and could fetch up to million when it is sold at an auction in Switzerland next month.

A pear-shaped vivid pink diamond will go under the hammer at Sotheby's next month, where auctioneers expect it to sell for million (USD). Rough Cut (No . A rare pink diamond , the largest of its kind to ever come to auction , is expected to fetch more than £15 million .

The GIA said the vibrancy of the "bright and ravishing" stone was extremely rare, particularly considering its weight.

The 37.30 carat Raj Pink, the world's largest know fancy intense pink diamond (est. $20-30 million)© Tristan Fewings/Getty Images The 37.30 carat Raj Pink, the world's largest know fancy intense pink diamond (est. $20-30 million) "Only the most privileged and knowledgeable in the industry know of their existence," it said in a report.

"With an unmodified Fancy Intense Pink hue, substantial size and desirable clarity, the Raj Pink is certainly one of those gems that only few may have the honour of experiencing."

The stone's current owner has chosen to remain anonymous, but revealed they named the stone after the Sanskrit word for king, according to Forbes.

The record price for a pink diamond per carat was set in Geneva when a 24.78 carat stone sold for more than $46 million in 2010.

However, ‘The Pink Star’ remains the most expensive pink diamond ever sold, fetching $71 million in April.

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