Photo credit: Sotheby’s

On November 13, Sotheby’s will be auctioning one of the most expensive diamonds in the world. The Pink Star weighs an impressive 59.60 carats and will be the highlight of the show. It is estimated to sell for $60 million. The oval cut natural pink diamond is graded as vivid pink.

David Bennett, the chairman of Sotheby’s jewelry division in the Middle East and Europe said, “It is full of fire and light. If it sells it will be a record price for any gemstone so far at auction.”

He added, “The top end in all categories in auction prices are very, very strong. People are seeking the very rare, the exceptional, the outstanding. This stone is.”

The Pink Star diamond was cut from a rough stone weighing 132.5 carats. It was mined by De Beers in Africa in 1999. The current owner, who remains anonymous, purchased the mounted ring in 2007.

The auction will take place at the historic five-star Beau-Rivage Hotel, which sits along Lake Geneva.

Christie’s, a rival auction house, will also be offering extravagant pieces at the Geneva sale, which includes a Cartier 1930s diamond and emerald necklace. The necklace is estimated to sell between $7 million and $10 million.