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Rare diamond

entertainment Updated: Nov 13, 2010 02:33 IST

A rare pink diamond goes on auction next week and Sotheby’s says the gem could set a new world record if it sells for its estimated price of $27-38 million.

The 24.78-carat gem, described as “fancy intense pink”, would top the previous record set by rival auctioneers Christie’s when they sold the blue 35.56-carat Wittelsbach-Graff diamond for $24.3 million in 2008. This is undoubtedly one of the most important diamonds to appear at auction in recent years.