The stone – a fancy yellow cushion-shaped diamond – is considered one of the largest in the world, was mined in 1901 by DeBeers in South Africa and originally weighed around 375 carats.

The diamond received its name after it was first auctioned in 1918 for the benefit of the British Red Cross Society and the order of St. John which uses the symbol of the Maltese Cross.

Red Cross diamond is designed as a distinctive pavilion forming a Maltese cross and will be auctioned for the third time since it was unearthed around 100 years ago.

It was first sold for £GBP 10,000 ($AUD17,583) to London jeweller SJ Phillips and auctioned for the second time in 1973 for CHF1.8 million ($AUD2.57 million) in Geneva.

François Curiel, chairman of Christie’s Europe