Lucara stone achieves highest ever price for a rough diamond

813-ct-Diamond

Lucara Diamond Corp. has sold an 812.77ct diamond for just over US$63 million (£43m), the highest price ever achieved for the sale of a rough diamond.

The type IIa diamond was recovered from the Karowe mine in Botswana in November 2015. It was sold for US$63,111,111 (£43,653,128), which totals US$77,649 (£53,717) per carat.

As part of the sale, Lucara partnered with Nemesis International DMCC, and retains a 10% interest in the net profit received from the sale of the resultant polished diamonds. The diamond has been named, ‘The Constellation’, in collaboration with this partnership.

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President and chief executive officer, William Lamb, comments: “We are very pleased with the result from the sale of this magnificent 813 carat diamond as well as the opportunity to further participate in profits earned when the polished product is sold.

The sale of the 813 carat diamond is the highest price ever achieved for a rough diamond, breaking all records. This achievement solidifies our reputation in the jewellery industry as one of the most important sources of diamonds of the very highest quality. We look forward to the next stage of Lucara’s development with the sale of the spectacular 1,109 carat, Lesedi La Rona diamond which will take place at Sotheby’s London on June 29, 2016.”

77Diamonds.com, managing director, Tobias Korminds, comments on the sale: “Lucara’s Karowe mine is proving to be one of the world’s best source of large quality rough diamonds right now. The sale of the 813 carat stone for $63m reinforces Botswana as the quality territory for diamonds, something which is helping transform the economy and quality of life of the country’s inhabitants. Lucara’s commitment to innovating with new technologies means we are likely to see additional large stones being unearthed in the next decade.

“When The Cullinan, the largest diamond ever discovered, was unearthed in 1905, it was said to be part of a much larger stone which has never been found. Perhaps if today’s technology existed at that time, that original larger stone would have been found, a diamond whose location and existence today remains shrouded in mystery.”

Korminds continues: “There is always excitement and anticipation around the purchase of a huge rough stone like this. Buying a rough diamond is like buying a painting obscured by dirt. There might be an old master beneath but you can never be 100% sure untill you’ve done every last bit of work to clean it.”

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