Australia's largest diamond ring expected to sell for more than $1m in prestige auction
Australia's largest diamond ring is tipped to be snapped up for more than $1 million at an auction tonight.
The prime 25-carat stone, with a square emerald-cut diamond, is expected to break records when auctioned in Woollahra, in Sydney's east, at 6pm.
The diamond has an estimated worth of $990,000-$1.2 million, making it the most expensive to be ever offered in Australia and the queen of all engagement rings.
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This 25.02 carat ring is the largest diamond ever to be auctioned in Australia.(Supplied Nine)
It is understood the "spectacular" stone was cut from a 47.961 carat rough, ethically mined in the Canadian Tundra, and now listed for sale by a mystery local investor.