Rare 5-carat pink diamond to be auctioned by Christies expected to fetch $7million

History was created when the rare Wittelsbach diamond fetched $25million at an auction held by Christies. Once again history is all set to repeat itself as Christies is all gearing up to auction a rare 5 carat pink diamond in Hong Kong. The stone, set in a so-called “cushion-cut” ring by famed jewelers Graff Diamonds, is expected to fetch anywhere between $5million and $7 million. While just a quarter of the size of the world record holding pink jewel (a 19.66-carat stone that sold in Geneva for $7.4 million in 1994), this beautiful 5 carat stone is touted to be one of the best colored stones to appear in recent years. While the South African-mined diamond isn’t quite rated flawless given minor blemishes, Christie’s said that these could be removed by minor re-polishing. Christies who is confident of the buying prowess of Asian jewelry collectors, is sure this rare pink gem will fetch its desired price.

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If so, this vivid pink gem will sit beside many other priceless stones who managed to fetch record breaking prices.