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    Rare emerald cut pink diamond at Sotheby's. (Click on image to enlarge).

    A pink diamond weighing 10.99 carats will be offered by Sotheby’s at its sale of magnificent and noble jewels in Geneva on May 17.
    Graded as “fancy intense pink” it is part of a rare subgroup of diamonds known as type IIa and comprising less than 2% of all of the world’s gem diamonds. Stones in this group are chemically the purest of all diamond crystals.
    This stone features a classic emerald cut, a style of cutting normally associated with white diamonds.  It is immensely sought-after when found in the rare colours such as pink and blue.
    Estimated at CHF 8.3-14.8 million ($9-16 million), this stone is being offered for sale from a private collection and has not appeared on the market for more than 30 years.
    UPDATE:  International jewellers Leviev outbid four underbidders to purchase the 10.99 carat diamond for CHF 9,602,500/$10,840,358, the third highest price for a pink diamond.  It was the  ninth highest price for a diamond at auction.

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