The 32-carat emerald-cut Annenberg diamond is to be auctioned off in the fall by Christie’s New York. The diamond is expected to fetch as much at $5 million.

The flawless diamond, owned by Lee Annenberg, the widow of publishing magnate Walter Annenberg, is to lead the magnificent jewels sale on October 21.

Rahul Kadakia, Christie's head of jewelry, stated: "Gems of this size are extremely rare, and their presence on the market is always an important event in the world of diamonds. This gem's impeccable color, clarity, and polish as well as its prestigious provenance will attract jewelry collectors from all over the world."

The gem will go on tour ahead of the sale with stops in Geneva, London, Hong Kong, Los Angeles and New York.

In December the 35.6-carat Wittelsbach blue diamond broke all previous records and sold for $24.3 million