An exceptinally rare pink stone is set to break the record for being the world’s most expensive diamond ever.

The pink stone is estimated to be worth $27-38 million when it goes under the hammer on November 16 at Sotheby’s in Geneva

It is classified as ‘fancy intense pink’ – the most perfect pink colour – by the Gemological Institute of America, and is set between shield-shaped diamond shoulders on a silver ring.

Hailed as one of the greatest diamonds ever discovered, it was formerly owned by the late Harry Winston, the U.S. jeweller to the stars.

In over 244 years of auction history, only 18 diamonds of more than 10 carats showing a distinct pure pink colour have being offered for sale and not one was graded a fancy intense pink at the time.

Despite the prohibitive price tag, there have been several inquiries already from those eager to add it to their collections.

In December 2008, the gray-blue Wittelsbach Diamond went for $24.3 million at Christie’s, setting a new world record auction price for any jewel.

Sources: DailyMail – Luxuo Italy