Stamp-sized pink diamond could bring $28M at auction
NEW YORK - A pink diamond the size of a postage stamp is going on the auction block and it's estimated to bring as much as $28 million.
The 16.08-carat gem could set a record for a cushion-shaped fancy vivid pink diamond when it's offered at Christie's in Geneva on Nov. 10.
The auction house says it's the largest diamond of its kind to come to auction.
A smaller, 8.72-carat pink diamond of the same shape and fancy vivid pink grade sold for $15.9 million at auction in May.
Fancy vivid pink means the hue is of the purest and strongest saturation.
Christie's says the seller purchased it 10 years ago as an investment.
A 25-carat emerald-cut pink diamond holds the auction record for any diamond. It sold for $46 million in 2010.
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