The Wittelsbach-Graff Diamond is to go on display at the American Museum of Natural History later this week.
Loaned to the institution by Laurence Graff, the 31.06-carat precious stone will be on show in the Harry Frank Guggenheim Hall of Minerals from October 28th.
It recently made an appearance on the Today show in the US, where host Natalie Morales described it as "absolutely just perfect", MSNBC reports.
Discovered in India, the gem has been owned by Mr Graff since 2008, who has carried out repair work to reverse damage that had been done to the stone over the years.
It is classified as a Type IIb, a rare example that are believed to make up under 0.5 per cent of all diamonds.
The stone bears a similarity to the 45.52-carat Hope Diamond – which is on permanent display at the Smithsonian in Washington DC – and experts had considered the theory that the two gems were cut from the same stone, however recent comparisons have indicated this is unlikely.