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Sotheby's expects record price for rare pink diamond   2010-11-11 09:02:11 FeedbackPrintRSS

A model displays a 24.78-carat Fancy Intense Pink Diamond that will be on Sothebys' auction of Magnificent Jewels on Nov. 16, 2010 during a press preview held in Hotel Beau Rivage, Geneva, Switzerland, Nov. 10, 2010. (Xinhua/Yu Yang)

GENEVA, Nov. 10 (Xinhua) -- An unnamed world-class 24.78 carat pink diamond with the potential for a record-breaking price will be auctioned by Sotheby's, the auction house says.

The pink diamond, graded as Fancy Intense Pink by the Gemological Institute of America, is described by Sotheby's as an "exceptionally rare and truly magnificent pink diamond of the purest, vibrant hue." The diamond has been given a Type IIa classification which comprises less than 2 percent of all gem diamonds.

The diamond was purchased about 60 years ago from Harry Winston, a well-known American jeweler who also had been the owner of the Hope Diamond, and has been preserved in a personal collection since then.

David Bennett, chairman of Sotheby's International Jewelry Division, told Xinhua that bids on the pink diamond were estimated to be between 27 to 39 million US dollars.

Once sold, it will surpass the the record of 24.31 million U.S. dollars set by the historic Wittelsbach diamond in December 2008.

"It really is one of the most important diamond auctions over the last 30 years," Bennett said.

He said the diamond has attracted huge attention around the world, with potential buyers from Asia, Middle East, Europe and America.

The auction will be held in Geneva on Nov. 16.

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