You won’t believe how much this pink diamond costs

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.