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Egg-Sized 118-Carat Diamond Up for Auction Shown in NYC

The oval diamond found in a southern African nation has a pre-sale estimate of between $28 million to $35 million

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    NEWSLETTERS

    A 118-carat white diamond is on display at Sotheby's Wednesday. The oval stone has a pre-sale estimate of between $28 million and $35 million.

    A New York auction house is showing off a 118-carat white diamond that's the size of an egg.

    The oval stone was highlighted at a Manhattan media event Wednesday. It will be auctioned in Hong Kong on Oct. 7 and has a pre-sale estimate of $28 million to $35 million.

    Sotheby's calls it the greatest white diamond to be offered at auction in terms of size, quality, polish and color.

    It was discovered in 2011 as a 299-carat rough diamond in an undisclosed southern African nation.

    The current record for any white diamond is $26.7 million. That pear-shaped stone was over 101 carats. It was sold at Christie's in Geneva last spring.

    The stone being auctioned next month is nearly 20 percent larger.