05/01/2010 05:12 am ET | Updated May 25, 2011

Rare, Blue De Beers Diamond To Be Auctioned In Hong Kong

Sotheby's is set to auction off a rare, blue diamond, once part of the De Beers Millennium collection, Reuters reports. The 5.16 carat gem has an estimated value of $4.6-$5.8 million and will hit the block on April 7.

"The diamond's high and even saturation of brilliant sky-blue color, internally flawless clarity and classic pear shape will undoubtedly spur intense bidding amongst discerning collectors from around the world," the auction house explained.

China is the perfect place for Sotheby's jewels and jadeite 2010 spring sale, thanks to its growing diamond markets.

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