An oval-shaped diamond named the “Pink Promise” is set to be auctioned at Christie’s in Hong Kong, with a US$42 million price tag. A 14.93-carat pink gemstone forms the centre-piece of the diamond-studded ring, Free Malaysia Today reports.
A Christie’s spokesman said it was one of the most important pink diamonds ever to be sold because of its colour and clarity.
“The rarity of pink diamond makes it so valuable,” Fung Chiang of Christie’s jewellery department told AFP.
“For diamond production every year, we are talking about less than two percent (for) coloured diamonds,” Chiang said.
Researchers still do not fully understand the “exact structural defect” that causes the appealing pink hues, the auction house added in a statement.
The ring will be auctioned on November 28 in Hong Kong.