World's largest cut emerald to fetch $2 million

The world's largest cut emerald is up for grabs at Western Star auction in the town of Kelowna, Canada. The precious stone weighs 57,500ct, which is an equivalent to to 11.5 kilograms.

The stone is shaped like a watermelon, or a soccer ball. The emerald, known as Teodora, which means God's Gift, was found in Brazil. The place, where the stone was discovered, is kept secret. It new owner, gem wholesaler Regan Reaney of Calgary, believes that the stone was found by a small mining company.

The stone was then cut in India and sent to Canada. Reaney purchased Teodora from an Indian vendor on January 13. The entrepreneur bought the world's largest cut emerald as a successful investment.

The stone has already been evaluated at $1.15 million. The organizers of the auction and the owner of the stone hope that the emerald will fetch from 2 to 2.5 million dollars. The auction will take place on Jan. 28, Saturday.

Teodora is the fifth largest emerald that has ever been found. It is also the world's largest cut emerald.