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The Pink Legacy diamond has been estimated at between $ 30 million and $ 50 million (AFP)
The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie's in Geneva next week, when it is expected to bring in up to $ 50 million.
At nearly 19 carats, the vividly colored gem is extraordinary, Jean-Marc Lunel, an international jewelery specialist at Christie's, told AFP.
"If you consider that pink diamonds weigh less than a carat, it is really something," he said.
The gem, which has been estimated at between $ 30 million and $ 50 million, and Lunel suggests it could hit the end of that range.
"It is probably the most beautiful (specimen) ever presented at public auction," he said.
The rectangular-cut diamond has been graded "fancy vivid" – the highest possible grade of color intensity.
Christie's pointed out that in the salesroom, fancy vivid pink diamonds over 10 carats are "virtually unheard of" and that only four diamonds or over 10 carats have ever been offered for sale.
One of them, the nearly 15-carat Pink Promise, was sold in Hong Kong for $ 32.5 million. That amounts to $ 2.176 million per carat, which remains the world's highest price.
And in 2013, a 59.60 carats meanwhile went under the hammer at Sotheby's for $ 83 million, or $ 1.39 million per carat.
The Pink Legacy, set to headline Christie 's annual Magnificent Jewels auction on Tuesday, used to belong to the Oppenheimer family, which for decades ran the De Beers diamond mining company.
It was discovered in 1970, Lunel said.
"It was probably cut in the 1920s," he said, adding that it had not been altered since.
The classic rectangular cut is traditionally used for white stones, but is rare for pink diamonds.
"Imagine a domino that you have cut the corners off," Lunel said, pointing out that the cut is a "classical so-called emerald cut", which stands out from the typical, more rounded, multi-faceted cuts used today.
Rahul Kadakia, Christie's International Head of Jewelery, meanwhile said in a statement in September that he expected the Pink Legacy to "cause immense excitement with collectors and connoisseurs of diamonds around the world".
"Its exceptional provenance will no doubt be one of the world's greatest diamonds."
(Except for the headline, this story has been edited by NDTV staff and is published from a syndicated feed.)
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