World's second biggest diamond sells for $53 million

Following a private sale, the 1,109-carat uncut stone finally went to luxury jeweler Graff Diamonds, which said in its press release that they are "thrilled and honored to become the new custodians of this incredible diamond".

"(Ecofin Agency) - Lesedi La Rona", the second biggest diamond ever discovered was sold for $53 million (€44.7 million).

"Lesedi La Rona ", "Our light" in the language of Botswana, is a diamond 1.109 carats and the size of a tennis ball.

The stock soared in the months following the Lesedi La Rona's discovery, but it has plummeted more than 40% since last year's failed auction.

Tobias Kormind, managing director of the online retailer of diamond jewelry 77Diamonds.com, said that the sale marks an important moment for Britain's heritage in diamonds.

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The world's second-largest gem-quality diamond has been sold to a London jeweller for $53m (£39.5m). Rough stones are usually bought via a bidding process directly with the mining company in question.

Then an expert team will examine the diamond using microscopes to pick up and navigate any further pinpoint inclusions.

It was unearthed by Canadian miner Lucara Diamond Corp almost two years ago at its Karowe mine in Botswana.

Lamb had pitched that ultra-rich collectors who are interested in buying and selling precious antique pieces for the record-breaking sum, would do the same with the new diamond at the auction.

The largest gem-quality rough diamond ever found was 3,106.75 carats, found in what is now South Africa in 1905. But it falls short of the $63 million Lucara received a year ago for The Constellation, a smaller 813-carat uncut diamond.

  • Ronnie Bowen