British jeweler Gaff said Tuesday it has
purchased the world's largest uncut diamond -- roughly the size of a tennis
ball -- for $53 million (44.5 million euros).
Canadian miner Lucara Diamond sold to Graft the
1,109-carat gem, the Lesedi La Rona, which was found in Botswana's Karowe mine
in late 2015.
The Lesedi La Rona, the world's largest rough
diamond, is 1,109 carats and was found in Botswana's Karowe mine in late 2015.
We are thrilled and honored to become the new
custodians of this incredible diamond," said company chairman, Laurence Graft, in a statement.
"The stone will tell us its story, it will dictate how
it wants to be cut, and we will take the utmost care to respect its exceptional
properties."
Lucara confirmed the hefty price tag in a statement issued
in Vancouver.
"The discovery of the Lesedi La Rona was a company defining
event for Lucara," said William Lamb, president and chief executive of
Lucara.
"It solidified the amazing potential and rareness of the
diamonds recovered at the Karowe mine."
The rough diamond had previously failed to meet its reserve price
of more than $70 million at a Southey's auction in 2016.
Graff is already the owner of a 373-carat diamond, which was
bought earlier this year and formed part of the original stone.
Lesedi La Rona means "our light" in Botswana's Tswana
language. It could be cut into smaller gems for jewelry or left whole in a
private collection.
Diamond Quality Factors
One of the first things most people learn about diamonds is
that not all diamonds are created equal. In fact, every diamond is unique.
Diamonds come in many sizes, shapes, colors, and with various internal
characteristics.
All polished diamonds are valuable.
That value is based on a combination of factors. Rarity is one of those
factors. Diamonds with certain qualities are more rare—and more valuable—than
diamonds that lack them.
Jewelry professionals use a
systematic way to evaluate and discuss these factors. Otherwise, there would be
no way to compare one diamond to another. And there would be no way to evaluate
and discuss the qualities of an individual diamond. Diamond professionals use
the grading system developed by GIA in the 1950 s, which established the use of
four important factors to describe and classify diamonds: Clarity, Color, Cut,
and Carat Weight.