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Page last updated at 01:05 GMT, Monday, 27 April 2009 02:05 UK

Diamond set for record auction

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It could become the most expensive gemstone per carat ever sold.

A rare blue diamond is set to be the centre piece of a Sotheby's jewellery auction in Geneva, Switzerland, next month.

The 7.03 carat gem was discovered at the Cullinan mine in South Africa last year, the same mine that produced the 530 carat Great Star of Africa diamond, which is set in the Crown Jewels.

The flawless blue diamond has an asking price of between £4m and £6m and Sotheby's Europe chairman David Bennett is confident it will sell.

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