Rare pink diamond ring to fetch 24m pounds at auction

London, Oct 05 (ANI): An exceptionally rare pink diamond ring is all set to go under hammer and is expected to fetch 24 million pounds.

The enormous 24.78-carat gem is cut into a rectangular shape with rounded corners, and mounted on a ring in between two clear stones.

The gem, classified by the Gemological Institute of America as "fancy intense pink" has been assessed as type IIa - meaning it is in the top two per cent of the world's diamonds.

It was sold by celebrity jeweller Harry Winston some 60 years ago and has been in a private collection ever since.

It is now on show in Hong Kong and will tour the world before being sold by Sotheby's auction house in Geneva, reports the Telegraph.

It is estimated to fetch between 17 million pounds and 24 million pounds - almost one million pounds per carat.

Experts describe the coloured diamonds as the most sought-after jewels around the world, with blues, pinks and greens proving most popular.

Once sold, the stone is expected to rocket into the list of the top ten most expensive diamonds in the world. (ANI)