"Rose Spirit", with $ 38 million

The largest oval-shaped jewel is up for auction.

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Sotheby's said yesterday that an extremely rare diamond, in a pink and purple hue, is expected to reach $ 38 million when it goes on sale at the November 11th auction.

The oval-shaped gem, which was mined in Russia, and named after the Russian ballet "The Spirit of the Rose", became the largest of its kind to be offered at auction.

The demand for colored gemstones has increased by the world's rich in recent years.

Sotheby's added that the 14.83 carats, 14.83 carats, of the Russian company (Alrosa) extracted from the largest pink diamond crystal ever found in Russia.

“The presence of pink diamonds in nature is extremely rare in any size,” said Gary Shauler, global head of jewelry at Sotheby's.

Only 1% of all pink diamonds are more than 10 carats in size.

The jewel will be displayed in Hong Kong, Singapore and Taipei, before being auctioned in Geneva on November 11th.

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