Sotheby's auctioning 100+ carat diamond with no reserve

Sotheby's auction house is auctioning off one of the largest diamonds ever discovered in North America.

The 100+ carat diamond was discovered in the Victor mine in Ontario, Canada.

Quig Bruning of Sotheby's calls the diamond "perfect."

"It's perfect color. It's perfect clarity. The cut is unparalleled. And it's just a perfect diamond," said Bruning.

Bruning said Sotheby's is also doing something unprecedented with the sale of the diamond: no reserve.

Similar diamonds usually go for between $11-30 million, but Bruning said this diamond will go to the highest bidder no matter what.

"We're really going to let the market decide what the price of this diamond is," said Bruning.

The sale is October 5th in Hong Kong, but Sotheby's expects bids from all over the globe.