World's second biggest diamond sells for $53 million

World's second biggest diamond sells for $53 million

World's second biggest diamond sells for $53 million

The highest bid stood at $ 61 million (a little over 51 million euros).

Lucara had originally hoped to get at least $70 million for the stone, describing it as the biggest gem quality diamond found in more than a century.

The company announced Monday that the Lesedi La Rona, an 1,109 carat-sized stone unearthed in 2015, has sold for $53 million US. BMO Capital Markets had forecast that the diamond, which went unsold at a Sotheby's auction in London past year, could sell for $75 million. The Cullinan was subsequently cut into smaller pieces, with the two largest portions incorporated into Britain's Crown Jewels. Rough stones are usually bought via a bidding process directly with the mining company in question.

The fate of the Lesedi La Rona, or "our light" in the Tswana language spoken in Botswana, is a good example of how size isn't the most important factor in the diamond industry.

Lamb had gambled that ultra-rich collectors, who buy and sell precious art works for record-breaking sums at auction, would do the same with a diamond in the raw.

Sotheby's pointed out in its press release for the sale that the Lesedi la Rona "may have the potential to yield the largest top-quality diamond in existence", something in the region of a 400-carat flawless diamond. "It solidified the awesome potential and rareness of the diamonds recovered at the Karowe mine", William Lamb, president and CEO of Lucara, said in a press release.

If this is indeed the case, the Lesedi la Rona would be second only to the 530.40-carat Star of Africa, cut from the Cullinan rough and the most valuable colourless diamond in the world.

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