World's largest super rare, purple-pink diamond up for auction, could fetch $38 million

Moscow, Oct 13: One of the world's largest fancy vivid purple-pink and internally flawless diamonds mined in Russia will be sold at Sotheby's Geneva Magnificent Jewels and Noble Jewels auction on November 11, the auction house Sotheby's said on October 17.

Mined by Russian diamond producer Alrosa, the 14.83-carat diamond, named "The Spirit of the Rose," is the largest vivid purple-pink diamond ever offered at auction and it is estimated to be worth USD 23-38 million, according to Forbes.

"This sale is the result of a long time relationship between Alrosa and Sotheby's, several months of discussion about this masterpiece and the best way to offer it for sale," Benoit Repellin, director, specialist and head of Magnificent Jewels sales for Sotheby's Jewellery Department, said, as quoted by the media outlet.

"The occurrence of pink diamonds in nature is extremely rare in any size. Only one percent of all pink diamonds are larger than 10-carats," said Gary Schuler, worldwide chairman of Sotheby's jewellery division.

This oval-shaped gem was created from a 27.85-carat clear pink rough diamond discovered in Russia's northeastern Sakha Republic in a mine owned by Russian mining giant Alrosa, the publication said. The diamond was named after the Russian ballet "The Spirit of the Rose," staged and produced by Sergei Diaghilev and premiered on April 19, 1911.

The gem is being shown in Hong Kong, Singapore and Taipei before being auctioned in Geneva on Nov. 11.