BEIJING, Feb. 20(Xinhuanet) -- In what is said to be a historic sale, a 101-carat, near-flawless diamond will go under the hammer later this year in Hong Kong, media reported Wednesday.

    The squash-ball sized stone, which will be sold at the Hong Kong branch of Christie's auction house on May 28, is now on exhibition in London and is also the biggest white diamond at auction in nearly two decades, Christie's said.

A 101.27 carat colourless diamond is displayed at Christie's auction house in London. It is the biggest colourless diamond to appear at auction for 20 years and it will go under the hammer later this year, officials said as it was unveiled in London. (Xinhua/AFP Photo) Photo Gallery>>>

    Francois Curiel, chairman of jewellery at Christie's, made it clear that this was a historic sale.

    "Only three colorless diamonds of over 100 carats have ever appeared at auction, all sold in Geneva," said Curiel.

    Cut from a 460-carat South African rough stone, the gem is expected to fetch in excess of 6 million U.S. dollars.

    "With Asia becoming such a vibrant market, it is fitting that this rarest gem should be offered ... to the growing number of collectors in this region," he added.

A 101.27 carat colourless diamond is displayed at Christie's auction house in London. It is the biggest colourless diamond to appear at auction for 20 years and it will go under the hammer later this year, officials said as it was unveiled in London. (Xinhua/AFP Photo) Photo Gallery>>>

    The diamond was found at the Premier diamond mine in South Africa, and is being sold by a Europe-based diamond trading company.

    It is so far unnamed. The buyer gets the right to name the stone, Christie's said.

    Comparable diamonds have fetched astronomical prices at auction. The Mouawad Splendor, a 101.84-carat pear-shaped diamond, brought in 12.7 million dollars when it was sold in 1990.

    (Agencies)