Top advert 1

‘Lesedi la Rona,’ the largest gem-quality rough diamond discovered in more than 100 years, will be auctioned in London this month June and is expected to sell for $70 million, international auction house Sotheby’s said.

Ahead of the auction, the 1,190-carat diamond was on display at Sotheby’s New York headquarters. Its Setswana name translates as ‘Our Light.’ David Bennett, worldwide Chairman of Sotheby’s jewelry division, said the size of the Lesedi la Rona amazed experts.

“It really just soared off the scale of rare into something just, one off, it’s just unique,” he said.Unearthed in Botswana in November 2015 by Canadian mining company Lucara Diamond, the gigantic gem is about the size of a tennis ball and is believed to be between 2.5 billion to more than three billion years old.

The Lesedi La Rona’s color and transparency are typical of a rare and coveted subgroup called Type IIa diamonds, according to a study by the Gemological Institute of America.Bennett said it was second only in size to the Cullinan Diamond, which was discovered in 1905 in South Africa and weighed more than 3,000 carats.

The Cullinan Diamond was later cut into several smaller stones. Sotheby’s said independent reports by experts showed the Lesedi la Rona could have the potential to yield the largest, top-quality diamond ever seen once it has been cut and polished. “It’s worthwhile for people to come and look at it because you probably won’t be seeing it again in two or three year’s time,” Bennett said. “It may very well be cut up into all these wonderful famous stones.”
[CNBC]

BLOG COMMENTS POWERED BY DISQUS

Market Info

 2016-12-29 Domestic Companies BARCLAYS 504 BIHL 1755 BTCL 97 CHOBE 770 CHOPPIES 240 CRESTA 128 ENGEN 980 FNBB 296 FPC 257 FURNMART 70 G4S 408 LETLOLE 221 LETSHEGO 230 NAP 294 OLYMPIA 20 PRIMETIME 310 RDCP 270 SECHABA 2700 SEFALANA 1300 STANCHART 775 TURNSTAR 325 WIL 517 AFINITAS 94 IMARA 260 SEFALANA RIGHTS 2016 42 Foreign Companies ANGLO 24495 BLUE 34 GG 735 INVESTEC 5367 A-CAP 35 AFR 53 BOD 34 LUC 2502 MAGNUM 5 SHUMBA 117 CSEW40 3670 NEWFUNDS 4777 NEWGOLD 11720 NEWPLAT 10490 Bonds: BBB015 BBB016 BBS004 11.1% p.a 2019 BBS005 11.2% p.a 2023 BBS006 BHC017 BHC020 10.1% p.a 2020 BVI001(RE) 11.23% p.a 2018 BW005 10% p.a 2018 BW007 8% 2025 BW008 7.75% p.a 2020 BW010 7.75% p.a 2017 BW011 7.75% 2031 BW012 6.00% 2040 DPCF005 10.6% p.a 2019 DPCF006 10.75% p.a 2022 DPCF007 10.9% p.a 2025 FML025 8.20% p.a 2025 FNBB005 FNBB006 LHL05 8.25% 2017 LHL06 10.5% 2023 LHL07 10.50% 2025 LHL08 11% 2027 NDB001 11.25% p.a 2017 PTP021 PTP024 SBBL003 10.50% p.a 2017 SBBL046 SBBL052 SBBL056 SBBL062 SBBL063 SBBL064 SBBL065 SCBB003 10.50% p.a 2015 SCBB006 SCBB007 SCBB008 8.2% p.a 2022 WUC001 10.65% p.a 2018 WUC002 10.60% p.a 2026