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A rare 24.78-carat pink diamond is expected to sell for as much as $38 million (£23.8 million) when it goes up for auction in Geneva next month.

Sotheby's will be offering the Fancy Intense Pink Diamond as part of its Magnificent Jewels event on November 16th and David Bennett, chairman of Europe and the Middle East at the firm's International Jewellery Department said the stone is "one of the most desirable" he has ever seen during his 35-year career at the auction house.

"What makes it so immensely rare is the combination of its exceptional colour and purity with the classic emerald-cut," he explained, adding the cut is "highly sought-after" when found in coloured gems.

The diamond, which is part of a private collection, has not appeared for sale for almost 60 years, when it was sold by jeweller Harry Winston.

Also going under the hammer in the near future is the Bulgari Blue Diamond, which is expected to change hands for over $12 million at a Christie's event in New York later this month.

A pink diamond set in a ring that also features smaller versions of the precious stones is to go up for sale in Hong Kong.

A pink diamond is expected to sell for up to $7 million (£4.4 million) when it goes under the hammer at a Sotheby's auction in Hong Kong next month.

The International Diamond Exchange reports the guide price for the 6.43-carat precious gem is between $933,000 and $1.08 million per carat.

It will be up for sale at the Magnificent Jewels and Jadeite event on October 6th and the news source notes the estimated price may even be exceeded, as demand for coloured diamonds is traditionally high at Hong Kong events.

The gem, set in a ring that also includes a cluster of pear-shaped diamonds, is one of a number of items that will be available at the auction.

Also up for sale will be two diamonds weighing nearly 11 carats each, which are estimated to sell as a pair for between $3.3 million and $3.9 million.

The Bulgari Blue Diamond ring – which features the world's largest blue diamond – is expected to go for in excess of $12 million at a Christie's auction on October 20th.