NEW YORK (AP) — A New York auction house is showing off a 118-carat white diamond that's the size of an egg.
The oval stone was highlighted at a Manhattan media event Wednesday. It has a pre-sale estimate of $28 million and $35 million when it's offered in Hong Kong on Oct. 7.
Sotheby's calls it the greatest white diamond to be offered at auction in terms of size, quality, polish and color.
It was discovered in 2011 as a 299-carat rough in an undisclosed southern African nation.
The current record for any white diamond is $26.7 million. That pear-shaped stone was over 101 carats. It was sold at Sotheby's Geneva last spring.
The present stone is nearly 20 percent larger.
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If the fee was enacted as planned in the New Starts application, the expected $555 million in revenue would almost double the amount of taxes and fees motorists currently pay to the state through gas taxes
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