Stephanie Hallett
March 21, 2017 1:14 pm

This is either your dream engagement ring or the stuff of consumerist nightmares, but a pink diamond that weighs nearly 60 carats is about to be auctioned off by Sotheby’s, and it’s expected to sell for a fortune.

As the largest “Internally Flawless, Fancy Vivid Pink Diamond” the Gemological Institute of America has ever graded, the “Pink Star” gem is expected to break the existing record for highest-priced pink diamond ever sold — going for an estimated $60 million. The current record is held by the “Graff Pink” diamond, which was sold for $46.2 million in 2010.

The Pink Star was last sold in Geneva in 2013 for $83 million, but the buyer soon defaulted and Sotheby’s acquired the stone. The auction house believes the stone will sell successfully this time around.

Said David Bennett, worldwide chairman of Sotheby’s Jewellery Division in an interview with Reuters,

Sotheby’s says De Beers mined the diamond in Botswana in 1999, and claims the stone is conflict-free. But it was mined four years before the Kimberley Process for conflict-free diamond certification was implemented, so you may want to take that particular claim with a grain of salt.

Interested in making a bid? The Pink Star will be auctioned in Hong Kong on April 4th. And if you don’t *quite* have $60 million lying around, you can still see it on display at the Hong Kong Convention and Exhibition Centre from March 31st.