Rare pink diamond up for auction in June is expected to fetch $35 million

A 10-carat pink diamond is expected to be sold for more than $35 million when it goes on sale at Sotheby’s, the auction house announced Wednesday.

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At $3.3 million per carat, it is the most expensive per carat price placed on any diamond or gemstone prior to its sale.

The Eternal Pink, discovered four years ago by De Beers in a South African mine, will be sold in June.

According to Sotheby’s head of jewelry for the Americas, Quig Bruning, the diamond has joined “the ranks of the most important diamonds in history.”

While pink diamonds are rare, Eternal Pink has been classified as “ultra-rare” by Sotheby’s. The stone is nearly free of any flaws, a character that increases its worth.

The stone’s color has been designated “fancy vivid,” which is the highest grade of intense color. Only about 4% of pink diamonds get that designation.