World’s Second-Largest Diamond Sells for $53m

The diamond went up for public sale in 2016, however it did not promote.

It appears like a type of lumps of ice that develop in your fridge. However this lump, the second-largest gem-high quality diamond ever found, simply value somebody $ fifty three million.

There’s often a critical interval of contemplation, cautious budgeting and protracted discussions earlier than a stone is secured. And that’s simply in your on a regular basis two, three, 4 carats. Think about the negotiations concerned in shopping for a 1,109-carat tough diamond, the second largest gem-high quality stone present in over one hundred years. For Laurence Graff, it took over a yr, however he has introduced that he’s the proud proprietor of the Lesedi La Rona, in a deal valued at $ fifty three million.

In a press release, Graff stated the deal “was closed with a handshake after greater than a yr of negotiations. The gem, which is simply smaller than a tennis ball and weighs in at 1,109 carats, went up for public sale at Sotheby’s final yr, Fortune journal reported, however failed to satisfy its $ 70 million reserve worth.

It was well worth the anticipate Graff, which managed to seize the stone for $ eight million lower than the $ sixty one million highest bid on the public sale.

In accordance with Fortune, Graff already purchased a fraction of the Lesedi La Rona earlier this yr. The smaller 374-carat diamond was initially a part of the bigger one, however broke off through the mining course of. In its assertion, Graff described the acquisition as serving to to allow a “poignant reunion.”

The Karowe mine, the place the Lesedi La Rona was discovered, additionally yielded the world’s costliest diamond, the 813-carat Constellation, which it Lucara bought to a Dubai firm for $ sixty three million, based on The Road. It was later bought to Swiss luxurious watchmaker De Grisogono final yr for an undisclosed quantity.

Specialists say that the Lesedi La Rona fetched much less cash as a result of the stone is more likely to be harder to chop and has an inferior colour to the Constellation.

“In case you take the potential outcomes from the stone into consideration, the danger that the customer is definitely taking, now you can see why it wasn’t the simplest one to promote,” Lucara chief government officer William Lamb advised LiveMint.com.


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