Sotheby's are selling the most valuable cut diamond to ever go to auction, the internally flawless fancy vivid pink diamond is called 'The Pink Star. Jayson Mansaray reports.
Broadcasters: MUSIC: NO ACCESS Digital: THE MUSIC TRACK IN THIS VIDEO NEWS STORY MUST ONLY BE USED AS PART OF THIS PRODUCTION AND MUST NOT BE STRIPPED OUT AND USED IN ANY OTHER CONTEXT OR PRODUCTION, OR USED IN ANY RE-EDIT OR CUT DOWN OF THE PRODUCTION . For Reuters customers only. It's called 'The Pink Star' and it's the most valuable cut diamond to ever be put up for auction. At just under sixty carats it's also the largest flawless fancy vivid pink rock the Gemological Institute of America has ever graded. The precious stone goes up for auction at a time when the market for rare and coloured diamonds is growing. And when the hammer falls on the final bid in Hong Kong it is expected to break Sotheby's previous record for a pink diamond of over forty-six million dollars. SOUNDBITE, Sotheby's Worldwide Chairman International Jewellery Division, David Bennet, saying (English): "The last few years we've had coloured diamonds perform extremely well, many new records been created at auction for the coloured diamonds, Pinks and blues mainly, so we thought it was a good time to bring it to the market." The stone was mined by De Beers in Botswana in 1999, four years before the Kimberly Process for conflict diamonds was enforced. But Sotheby's say despite this the diamond sale complies with the Kimberley process and they can easily reassure consumers it is conflict free. SOUNDBITE, Sotheby's Worldwide Chairman International Jewellery Division, David Bennet, saying (English): "Simply because I don't think De Beers would have been involved in anything like that." The flawless diamond will be auctioned in Hong Kong on the 4 April where Sotheby's are expecting The Pink Star to set another record.