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This giant pink diamond could sell for $30 million at auction

15 November 2017

Some of the world's rarest and most valuable gemstones are up for auction, they all command multi-million dollar price tags, but there is one particular diamond that has become the talk of the town.

The 163-carat stone is the centerpiece of an emerald and diamond studded necklace.

The centerpiece is the size of a matchbox, and is set to be auctioned off at Christie's "Magnificent Jewels" sale in Geneva, Switzerland.

The flawless, D colour 11A type diamond was cut from a 404 carat rough rock which was discovered in February 2016 in the Lulo mine in Angola - the 27th biggest rough white diamond ever discovered.

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The necklace, named The Art of de Grisogono, sold for $33.5m - $29.5m plus $4m premium - exceeding pre-sale predictions of $30m.

Also on the block was "Le Grand Mazarin", a 19-carat pink diamond that once belonged to King Louis XIV, Napoleon Bonaparte and other French rulers.

It has since passed through the hands of famous French jeweller Frederic Boucheron and later the Baron von Derwies.

On Monday a diamond known as the Pink Star sold for a record $83m (£52m) at auction in Geneva.

This giant pink diamond could sell for $30 million at auction