Sotheby’s said Monday that an extremely rare diamond, in a pink and purple hue, is expected to fetch up to $ 38 million when it goes up for auction on November 11th. The oval-shaped gem, which was mined in Russia and named after the Russian ballet “Spirit of the Rose”, became the largest of its kind to be offered at auction. Colored gemstones have become increasingly popular with the world’s rich in recent years. Sotheby’s added that the 14.83 carat diamond extracted by the Russian company (Alrosa) was cut and formed from the largest pink diamond crystal ever found in Russia. “The presence of pink diamonds in nature is extremely rare in any size,” said Gary Shawler, head of global jewelry at Sotheby’s. Only one percent of all pink diamonds are more than 10 carats. The jewel is on display in Hong Kong, Singapore and Taipei before it is auctioned in Geneva on November 11th.
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