The stone was discovered mined and cut two years ago, and will be auctioned on October 7. It has a pre-sale estimate of $28 million to $35 million.
Referring to the size, quality, polish and color of the diamond, deputy chairman of Sotheby’s Asia Quek Chin Yeow said it was “the greatest white diamond we’ve ever had the privilege to sell.”
The original rough stone, unearthed in an unnamed African country in 2011, weighed 299-carats.
The auction record for a white diamond was set at Christie’s in Geneva earlier this year by a pear-shaped 101-carat diamond which sold for $26.7 million.
In addition to the 118-carat diamond, the auction also includes a 7.6-carat flawless, round, vivid blue diamond with a pre-sale estimate of $19 million.
It was in Hong Kong that a record $1.7 million per carat price for vivid blue diamonds was set with the sale of a 6-carat blue diamond for $10.2 million in 2011.