Six months ago, Diagem Inc. of Canada purchased a 9.32ct pink rough diamond from an artisan miner in Brazil for about $445,000. The miner held a permit to mine diamonds on Diagem`s property 370/98. At the time it was estimated the rough stone would end up as a 5ct heart shape polished diamond, but it turns out that estimate was a little optimistic.

Diagem shipped the diamond to the Natural Diamond Corporation of Belgium for analysis, cutting, and polishing.

Jacky Lewy, a director of Diagem and a principal of Natural Diamond, has been directing the cutting and polishing process, which is nearly complete at 3.13cts.

The heart-shaped, orangey-pink diamond (pictured) has peaked the interest of some auction houses.

According to Lewy, "Christie`s has expressed interest in including the diamond in its next auction or the auction preceding Valentine`s Day. Other houses are also showing interest."

Lewy and others who have examined the diamond express confidence that the diamond will likely achieve a significant value, but the company cautioned that it is not possible to obtain a definitive valuation because of the unique and rare nature of the diamond.