Jony Ive and Marc Newson's all-diamond ring set for auction

Written by By Jack Guy, CNN

If you're in the market for one-of-a-kind jewelry, take note: An all-diamond ring will be auctioned by Sotheby's next month.

Designed by Jony Ive, Apple's chief design officer, and industrial designer Marc Newson, the bespoke one-piece ring is cut from a large diamond and does away with the metal band and settings used in normal rings.

Jony Ive, left, and Marc Newson, pictured in 2015. Credit: Andreas Rentz/Getty Images for Conde' Nast International Luxury Conference

The diamond has 2,000-3,000 facets, a number that Sotheby's says has never been seen before in a single piece.

It was cut using a micrometer-thick water jet and a laser beam by Diamond Foundry, a company that produces laboratory diamonds at a facility in San Francisco.

The ring will be auctioned on December 5 in Miami, with the proceeds donated to (RED), a charity dedicated to fighting HIV/AIDS, set up by singer Bono and activist Bobby Shriver.

Huge pink diamond breaks world record at auction

This is the latest collaboration between Ive and Newson. Their past projects include work for Apple, a one-off Leica camera and a Christmas tree for London hotel Claridge's.

The ring is expected to fetch $150,000-$250,000 at the (RED) auction, which will take place during the Art Basel and Design Miami fairs, and will be cut to fit the winning bidder.

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A rare blue diamond, passed between Europe's royal houses for more than 300 years, sold at a Sotheby's auction for $6.7 million. Credit: Courtesy Sotheby's

It's been a big news week for diamonds. On Tuesday, an 18.96-carat pink diamond sold for a record-breaking $50 million at Christie's auction house in Geneva. At $2.637 million per carat, the diamond is now the most expensive ever sold by weight.

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