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Christie's To Auction 101-Carat Diamond For $8 Million

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A 101-carat, near-flawless diamond may fetch more than $8 million at a Christie's International sale in Hong Kong, the first time a gem of this quality and weight is auctioned in Asia, according to the London-based company.

The squash-ball sized stone, highlight of Christie's jewelry sale on May 28, has the third-highest clarity rating of VVS1 and the third-best ranking on a scale used to measure colorlessness. Colored diamonds are graded on a different scale.

Christie's only identifies the seller as a Europe-based diamond trading company run by three brothers. The auction house said the stone had been discovered at the Premier diamond mine in South Africa, the largest and oldest diamond mine in the country.

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Read about the diamond's dimensions