Largest Diamond Found! SOLD!

Posted on 05 May 2016

A view of the 1,109-carat "Lesedi la Rona": the largest gem-quality rough diamond to be discovered in over a century, and the largest rough diamond in existence today, at Sotheby's, New York, NY, on May 3, 2016.

The "Lesedi la Rona" will be auctioned at Sotheby's London on 29 June 2016, estimated to sell for in excess of $70 million. Donald Bowers/Getty Images for Sotheby's/AFP.



LONDON.- Sotheby’s announced that it will auction the 1109-carat “Lesedi la Rona” – the largest gem-quality rough diamond to be discovered in over a century and the largest rough diamond in existence today – in a stand-alone sale in London on 29 June 2016.

Estimated to achieve in excess of $70 million*, the Lesedi la Rona (“Our Light” in the Tswana language spoken in Botswana) was uncovered by Lucara Diamond Corp. in November 2015, at their Karowe mine in Botswana. Around the size of a tennis ball (measuring approximately 66.4 x 55 x 42 mm), this colossal rough diamond of exceptional transparency and quality is around 2.5 to over 3 billion years old.

Diamonds have been mined continuously for centuries in multiple locations around the world and yet nothing of the size and quality of Lesedi La Rona has been found in over 100 years. In terms of its size, the rough is exceeded only by the legendary Cullinan Diamond, mined in South Africa in 1905. The 3016.75-carat Cullinan Diamond produced nine major diamonds that are part of the historic Crown Jewels of the United Kingdom, including the Great Star of Africa – currently the largest top-quality polished diamond in existence, weighing 530.20 carats.

According to a study by the Gemological Institute of America, the Lesedi La Rona’s “top colour and transparency exemplify the “limpid” appearance commonly associated with type IIa diamonds” – a rare and coveted subgroup which comprises less than 2% of all gem diamonds. Stones in this group are “the most chemically pure and often show extraordinary optical transparency".

Independent reports on the potential yield of the rough have also stated that the Lesedi la Rona may have the potential to yield the largest top-quality diamond that has ever been cut and polished**. These reports have also stated that there is a high probability that the resulting polished diamonds will be “D” colour – the highest colour classification for white diamonds.

David Bennett, Worldwide Chairman of Sotheby’s Jewellery Division, commented: “The Lesedi la Rona is simply outstanding and its discovery is the find of a lifetime. It is a huge honour for Sotheby’s to have been entrusted with its sale. Every aspect of this auction is unprecedented. Not only is the rough superlative in size and quality, but no rough even remotely of this scale has ever been offered before at public auction”.

William Lamb, President and Chief Executive Officer of Lucara Diamond Corp., said: “We are very excited to be partnering with Sotheby’s on this landmark auction. Lucara has made innovation the cornerstone of its development strategy and this has led to the historic recovery of the Lesedi La Rona diamond. The forthcoming sale presents a unique opportunity to present this extraordinary diamond to a worldwide audience.”

The Lesedi la Rona will be on view at Sotheby’s New York on 7 May, and at Sotheby’s London from 18 until 28 June, ahead of its auction in the evening of 29 June.

Posted from online Artdaily 5/5/16

UPDATED NEWS:  SOLD DIAMOND 5/10/16 FROM ARTDAILY.COM

The record sale figure is unlikely to last very long. Lucara is preparing to auction an even larger 1,109-carat diamond at Sotheby's in London on June 29. Spencer Platt/Getty Images/AFP.





STOCKHOLM (AFP).- Canadian mining company Lucara Diamond on Monday announced the sale of a huge 813-carat diamond for a record $63 million (55 million euros).

The sale of the massive "Constellation" diamond was "the highest price ever achieved for a rough diamond, breaking all records," CEO William Lamb said in a statement.

The name of the buyer for the gem, which was discovered in Botswana, was not divulged, nor the conditions of the sale overseen by Nemesis International.

Lucara Diamond said it retained a 10 percent interest in the net profit from the sale of the polished diamonds that the stone will yield.

The record sale figure is unlikely to last very long. Lucara is preparing to auction an even larger 1,109-carat diamond at Sotheby's in London on June 29.

Both diamonds are from Lucara’s Karowe open pit mine in Botswana, which is gaining a reputation for spectacular stones.

Lucara shares had soared by 8.58 percent by mid-afternoon on the Stockholm market. The main shareholder in the Canadian company is the Swedish Lundin family.

Artdaily.com  5/10/16

 

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