>> It's called The Pink Star and it's the most valuable cut diamond ever to be put up for auction. At just under 60 carats, it's also the largest, flawless, fancy, vivid pink rock the Gemological Institute of America has ever graded. As the precious stone heads to auction, it represents a strengthening market for rare and colored diamonds.
And that's why when the hammer falls on the final bid in Hong Kong, it's expected to break Sotheby's previous record for a pink diamond, of over $46 million. Sotheby's Worldwide Chairman of International Jewellery, David Bennett, says the growing interest makes it a good time to sell.>> The last few years colored diamonds have performed extremely well.
We've many new records created at auction for colored, pinks and blues mainly, so we sorta thought it was a good time to bring it to the market.>> The stone was mined by De Beers in Botswana in 1999, 4 years before the Kimberly Process for conflict diamonds was enforced.
But Sotheby's say despite this, the diamond sale complies with the process and they can easily reassure consumers it is conflict free.>> Well, simply because I don't think De Beers would have been involved in anything like that, so.>> The flawless diamond will be auctioned in Hong Kong on the 4th of April, where it's estimated to sell for more than $60 million.