Rare Pink Diamond Could Be One Of The World's Most Expensive Stones

Another big pink diamond will test its luck at Sotheby's this fall. A 24.78 carat Fancy Intense Pink diamond that was last seen on the market 60 years ago, when it was purchased from Harry Winston, will be auctioned off at Sotheby's Geneva on November 16, 2010. The emerald-cut stone is mounted in a ring and has been determined to be part of the type IIa classification, a rare type of stone that represents less than two percent of all of the world's gem diamonds. The stone is currently graded as VVS2 clarity, but the report from the Gemological Institute of America states that the stone may be internally flawless after repolishing. The stone is offered for sale with a pre-sale estimate of $27-38 million. Last year a five-carat pink stone sold for $10.8 million setting a new per carat record.