Sotheby's to auction off most highly valued pink diamond in history

March 29 (UPI) -- Sotheby's on Wednesday unveiled the most valuable purplish pink diamond per carat ever brought to auction.

The diamond known as "The Eternal Pink" will go up for auction in Hong Kong this June and has an estimated value of more than $35 million "the highest price per carat estimate ever placed any diamond or gemstone," the auction house said in a press release.

"This color is the most beautiful and concentrated shade of pink in a diamond that I have ever seen or has ever come to market. Sotheby's is honored to behold this exceptional jewel and present it to the world this June," said the head of Sotheby's Jewelry Americas, Quig Bruning.

Discovered at the Damtshaa mine in Botswana and mined by De Beers, the 10.57-carat diamond will also challenge the price per carat record set by The Williamson Pink Star, an 11.15-carat Fancy Vivid Pink Internally Flawless diamond, which sold for more than $5 million per carat at Sotheby's Hong Kong in 2022.

In 2017, Sotheby's Hong Kong auctioned the CTF Pink Star, a 59.60-carat oval mixed-cut Fancy Vivid Pink, Internally Flawless diamond, that sold for $71.2 million, the current record for any gemstone sold at auction.

The first public exhibition of The Eternal Pink will be held in Hong Kong from April 1 to 7, as Sotheby's celebrates its 50th anniversary in Asia.

"This stunning diamond is the best of the best when it comes to exceptional pink diamonds and it is difficult to overstate its rarity and beauty," said Whenhao Yu, chairman of Jewelry and Watches at Sotheby's Asia.