Christie's to auction a pink diamond that could fetch $50million 

Published7 Hours Ago  Updated6 Hours AgoThe Associated Press

Denis Balibouse | Reuters

A Christie's staff holds a 18.96 carat Fancy Vivid Pink Diamondduring a preview in Geneva, November 8, 2018.

Christie's puts under thehammer next week the largest fancy vivid pink diamond that the famed auction househas ever sold, expecting to fetch $30 million to $50 million for the nearly19-carat, rectangular-cut gemstone.

The "Pink Legacy"will be the standout offering at Christie's fall jewelry auction in Geneva onTuesday.

The stone once belonged to theOppenheimer diamond family, and Christie's says it qualifies as a Type IIadiamond — the most chemically pure stones with little if any nitrogen. It saysfancy vivid pink diamonds over 10 carats are "virtually unheard of"in salesrooms.

Christie's sale kicks off twodays of jewelry auctions in Geneva. On Wednesday, Sotheby's will auctionjewelry once owned by French Queen Marie Antoinette that hasn't been seen inpublic for 200 year