Los Angeles — One of the world’s rarest diamonds, about the size of an egg or a large lollipop, is going up for auction next month and is expected to fetch $12m to $30m.

Sotheby’s said on Thursday that the 102.39-carat diamond, a flawless white sparkler, was the second-largest oval diamond of its kind to be offered at auction. The largest, a 118.28-carat diamond, set a record $30.8m price when it was sold in 2013...

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