The largest diamond ever found in North America at 552 carats was on display at Phillips auction house in New York on Wednesday.

The egg-sized fancy yellow diamond was discovered in October at the Diavik Diamond Mine in the Northwest Territories.

The mine is about 300 kilometres northeast of Yellowknife.

Dominion Diamond Mines and Rio Tinto Group unearthed the diamond, which is currently ranked 25th on the list of the world's largest rough diamonds.

James Pounds, executive vice-president of Dominion Diamond Mines said the diamond's value is unclear because it still needs to be cut and polished.

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