Rare Pink Diamond Expected to Fetch $50 Million

A Fancy Vivid Pink diamond is estimated to sell for almost $50 million dollars, auction house Christie's said on Tuesday (September 25).

The diamond, weighing 18.96 carats, is the largest of its kind to be sold in the company's history, International Jewelry Director David Warren told Reuters in London.

"In 40 years of working at Christie's I've never seen anything like this in my life. It was a huge surprise when there it was, we saw it and couldn't quite believe that such a stone existed. It has wonderful purity and incredible brightness. It is beautifully cut, but it is the size and the color that just take your breath away," Warren said.

"The estimate is $30-50 million dollars which is the highest estimate we have placed on any piece of jewelry at any time," he added.

The diamond is on display in London this week ahead of going on auction at the Four Seasons Hotel des Bergues in Geneva, Switzerland on November 13.