Published May 4th, 2005 - 01:10 GMT

HSBC Private Bank and Sotheby’s, the London-based fine arts auction house, are presenting to selected audiences in Dubai and Abu Dhabi a collection of priceless gems to be auctioned in Sotheby’s Magnificent Jewels and Diamonds Sale in Geneva on 18 May.

Among the collection is a spectacular purple-pink diamond of 28.03 carats expected to fetch US$7 million at the auction.  According to Sotheby’s records, this is the largest diamond of its kind ever to appear at auction.  The colour pink is very rare in diamonds and the size and weight of this diamond are considered to be exceptional.

Other pink diamonds in the sale include a 15.07-carat and an 8.01-carat pear shaped stone.

A number of perfect white diamonds are included in the collection, with a pear shaped stone weighing 52.97 carats and another diamond of 30.05 carats.

Alongside the rare diamonds, the collection includes some exceptional precious stones and pieces by the world’s leading jewellery houses, including a 42.98 carat ruby.

Matthew Welch , Head of HSBC Private Bank in the UAE said, “This is the third time we have worked with Sotheby’s in the UAE to bring to our clients an exquisite opportunity to view some of the world’s most precious jewellery. At HSBC Private Bank our primary aim is to help our clients achieve their goals both from a financial and a lifestyle perspective.  To do so, we are constantly looking for opportunities, which are appropriate to our clients’ interests and priorities. Investment in jewellery and precious gems is one area of particular interest to a number of our clients.”

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