A 101-carat diamond is to go up for auction in Hong Kong later this year.

The "near perfect" gem, which is approximately the size of a squash ball, will go under the hammer at the nation's branch of Christie's auction house on May 28th.

It is the largest white diamond to be put up for sale in almost two decades.

Francois Curiel, chairman of jewellery at Christie's, said: "With Asia becoming such a vibrant market, it is fitting that this rarest gem should be offered ... to the growing number of collectors in this region."

The diamond was discovered at the Premier diamond mine in South Africa and is currently unnamed.

According to a recent report in the Telegraph, the diamond will feature in Christie's Spring Masterpieces exhibition in London until February 27th.

It added that a comparable gem, a 101-carat pear-shaped diamond, sold for £6 million dollars in 1990.

The world's third largest jewellery fair will soon be taking place in Hong Kong.

It will include three auctions and displays from 2,300 exhibitors.