A diamond the size of a tennis ball is being put up for public auction, with estimates it could fetch in excess of U.S.$70 million.

The 1,109-carat Lesedi la Rona diamond was unearthed by the Canadian-based firm Lucara Diamond Corp in Botswana last November.

If the valuation reports prove correct, the Lesedi la Rona could easily beat the U.S.$48 million record paid for a diamond.

A diamond the size of a tennis ball is being put up for public auction.