GENEVA, Switzerland (CBS) -- A huge and rare pink diamond presented on Wednesday (September 25) could fetch more than $60 million at auction in November as collectors chase exceptional pieces in a strong international jewelry market, Sotheby's said.
The "Pink Star", which weighs 59.60 carats, is the most valuable diamond offered at auction, it said, showing the oval stone with the top grading of vivid pink amid tight security at a luxury hotel.
The current record is held by the "Graff Pink", a 24.78 carat fancy intense pink diamond bought by Laurence Graff, the London-based jeweler known as "The King of Diamonds", at a 2010 auction for $45.75 million then.
The "Pink Star" was cut and polished from a 132.5 carat rough diamond mined by De Beers somewhere in Africa in 1999, according to Sotheby's, which said it had no information on the exact geographic origin.
The stone, mounted on a ring, was first sold in 2007 and the current owner remains anonymous, a Sotheby's spokeswoman said.
Rival Christie's is offering three jewels from the collection of Bolivian tycoon Simon Itturi Patino among the pieces going under the hammer at its Geneva sale on November 12.
The pieces, including a 1930s emerald and diamond necklace by French jeweler Cartier estimated at $7-$10 million, feature rare gems and embody the taste of "The King of Tin" who founded the family dynasty, the private auction house owned by French billionaire Francois Pinault said in a statement on Tuesday.
The auction is to take place at Sotheby's in Geneva on November 13.