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QVB retailer Musson Jewellers has made a once-in-a-lifetime acquisition.

The retailer has acquired and is selling the Fortuna Diamond, with a price tag of $3.3 million dollars.

Three decades ago, a woman in West London purchased an 'exceptionally sized' ring she assumed was costume jewellery at a market.

This ‘costume jewellery’ was in fact a spectacular and incredibly rare 26 carat diamond, which its owner unknowingly wore for the past 30 years.

Musson Jewellers creative director Olivar Musson has set this jewel with a 0.75ct Pink Diamond from Argyle’s International Pink Diamond Tender.

“Argyle Pink Diamonds are one in a million, as was the discovery of the Fortuna Diamond," he said.

"For me it seemed like the perfect marriage of rare and important jewels. The story behind how this piece came to be will live on in the ages.

“We have been honoured to work with and own many important diamonds in this highest echelon of jewellery design and we know that these significant jewels have legacies and many lives. We are their temporary custodians."

The Musson Fortuna Diamond Pendant will be unveiled at a private launch event on September 26, to an exclusive audience of only 50 guests.

Consumers will be able to view this one-off masterpiece from the following day.

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