Rare pink 10 carat diamond
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Rare pink diamond to fetch £7m at auction

9 April 2011 Last updated at 03:23 BST

A vivid purple-pink 10 carat diamond is expected to fetch more than £7million ($12million) when it is auctioned on Tuesday.

The exclusive stone is being sold by Christie's in New York as part of a jewellery sale.

Rahul Kadakia, the head of jewellery for the auction house, said prospective buyers of the stone this size and value would be diamond merchants, private collectors and banks.

He added that precious stones made for good investments at the moment.