Its colour, clarity and size make this an extremely rare diamond. In terms of weight -- 59.60 carats -- it is the third largest pink diamond in the world; the first two slots belong to the Darya-i-Nur and the Nur-ul-Ain respectively.

The Steinmetz Pink is a relatively new diamond; it was unveiled to the world in 2003. Its origin is unknown, but the rough stone is believed to have weighed 100 carats.

It is named after the company that owns it -- the Steinmetz Group is considered one of the best diamond cutting companies in the world. Considering the rarity of the diamond, eight master cutters took 20 months to cut and polish the diamond. It is said 50 models of the final look of the diamond were made before the actual cutting took place.