World's largest vivid-pink diamond to fetch this mind-boggling amount at auction in Geneva

The pink diamond will be sold at Southeby's Geneva Magnificent Jewels and Noble Jewels auction on November 11.

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World's largest vivid-pink diamond known as the 'The Spirit of the Rose' will be up for auction  in Switzerland's capital city of Geneva on November 11. The 14.83-carat diamond's worth is estimated between USD 23 and USD 38 million.

The pink diamond will be sold at Southeby's Geneva Magnificent Jewels and Noble Jewels auction. The pink diamond was mined in Russia's northeast by Alrora -- one of the world's leading diamond producers in the world. 

The diamond is rare as the Gemological Institute of America graded it with the highest color and clarity and classified it as a Type IIa diamond, which is the purest of all diamond crystals.

The diamond was named after the Russian ballet "The Spirit of the Rose," staged and produced by Sergei Diaghilev and premiered on April 19, 1911. It is the second-largest oval diamond of its kind to be offered at auction. The largest, a 118.28-carat diamond, was sold at a record price of $30.8 million in 2013.

This classification is usually attributed to less than 2 percent of all gem-quality diamonds.