According to Gemological Institute of America, a nonprofit organization specializing in the field of gems, the diamond has the highest color and brilliance in the world.
Prior to being shaped and jeweled by the New York Steinmentz Diamonds company, this diamond has 132.5 carats.
Two other diamonds
"We feel lucky and have the honor to sell one of the most beautiful gems in the last 35 years.This pink diamond is obviously very important," said David Bennet from Sotheby's auction house.
He explained that pink diamonds weighing five carats are very rare. "Especially this one is 59.6 carats," Bennet said.
Before being named Pink Star, this diamond is known as a "Steinmetz Pink".
It is unknown who owns and sells Pink Star before changing hands in 2007.
Pink Star auction plan will be held on Nov. 13, after an auction of two white and blue diamonds, each valued at US $ 28 and US $ 19 million in Hong Kong in October.