If you've got a spare $53 million dollars, or US$38 million, then one of the rarest gems ever could be yours.

A 15.81 carat purple-pink flawless diamond is going up for sale at auction in Hong Kong next week.

It's called the Sakura, named after the cherry blossom, because of its colour, and is internally flawless, something very rare for a pink diamond.

It's expected to break the record for most expensive purple-pink diamond at US$27 million just last year.

Greg Hollan, owner of Greg Holland Jewellery, told Mike Hosking there would be few better examples of this kind of stone on the market.

“This is quite an extraordinary example of a pink diamond, for sure.”

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