Rare diamond may rake in 50 million dollars

The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie's in Geneva next week, when it is expected to bring in up to $50 million.

At nearly 19 carats, the vividly coloured gem is extraordinary, Jean-Marc Lunel, an international jewellery specialist at Christie's said. "If you consider that most pink diamonds weigh less than a carat, it is really something," he said. The gem, which on November 13 will be offered at auction for the first time, has been estimated at between $30 million and $50 million.

"It is probably the most beautiful [specimen] ever presented at public auction," he said, insisting there was good reason to expect the rock to snatch an extraordinary price.

The rectangular diamond has been graded "fancy vivid", the highest possible grade of colour intensity. Christie's pointed out that in the salesroom, fancy vivid pink diamonds over 10 carats are "virtually unheard of" and that only four vivid pink diamonds or over 10 carats have ever been offered for sale at auction.

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