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Diamond tipped to make £37 million

The most valuable diamond ever to go up for auction is expected to fetch more than £37 million.

Sotheby's said that The Pink Star, a 59.60-carat oval cut pink diamond, would go up for sale on November 13 in the historic five-star Beau-Rivage Hotel on Lake Geneva in Switzerland.

David Bennett, chairman of Sotheby's Switzerland, said the vivid pink diamond is "of immense importance" because of its extraordinary size and exceptionally rich colour that surpass all others known to exist in government, royal or private collections.

He said it was "simply off any scale, and passes, I believe, into the ranks of the earth's greatest natural treasures."

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