New Delhi | Jagran Trending Desk: An extremely rare 'fancy vivid purple-pink' 14.83-carat diamond worth between USD 23 and USD 38 million will be auctioned in Switzerland's capital city of Geneva on November 11.

The pink diamond is named after Russian ballet 'The Spirit of the Rose' and was mined in Russia's northeast by Alrora -- one of the world's leading diamond producers in the world. It will be sold at at Southeby's Geneva Magnificent Jewels and Noble Jewels auction.

"The occurrence of pink diamonds in nature is extremely rare in any size," AFP quoted Gary Schuler, head of Sotheby's jewellery division, as saying. "Only one per cent of all pink diamonds are larger than 10-carats."

The world auction record for a diamond is held by "CFT Pink Star", a 59.60-carat oval pink diamond that sold for $71.2 million in Hong Kong in 2017. The pink diamond is a form of diamond that appears in pink colour. Five out of the 10 most valuable diamonds ever sold at auction were pink, according to Repellin. There are only seven such diamonds of over 100 carats that have been sold at auction.

'The Spirit of the Rose' is the second-largest oval diamond of its kind to be offered at auction. The largest, a 118.28-carat diamond, was sold at a record price of $30.8 million in 2013.

Posted By: Lakshay Raja