Diamonds aren't all created equal. According to Gizmodo, Christie's Auction House recently announced that a 14.62 carat blue diamond, nicknamed the Oppenheimer Blue, will be sold at auction this May. The emerald-cut gem, worth an estimated value of between $38 and $45 million, is the largest Vivid Blue diamond ever to appear at auction.

Named after its previous owner, the late Sir Philip Oppenheimer, the diamond is described by Christie's Chairman Fran├žois Curiel in the video above as having "perfect hue, impeccable proportions, and [a] fabulous rectangular shape."

Those details are part of what makes the gem so rare. Rahul Kadakia, Christie's head of jewelry, told CNBC that less than 2 percent of the diamonds found in the world are blue, and only 10 percent of them are larger than a carat.

"Blue diamonds range from a very faint baby blue, a powder blue, to a dark, dark-indigo blue [that's] almost too dark," Kadakia said. "Vivid is the purest, most open, almost a happy blue color."

Kadakia called the estimate "a bargain" in comparison to the per-carat selling prices of other blue diamonds. In fact, CNBC estimated that the Oppenheimer Blue could hit the $58 million mark, or higher. The "Magnificent Jewels" auction is scheduled to take place in Geneva on May 18, which gives you a month and a half to save up.

[h/t Gizmodo]

Images via Christie's.