Size isn’t everything in the diamond market, especially for the biggest gem found in more than a century and which took more than a year to sell.
finally sold the 1,109-carat Lesedi La Rona diamond for $53 million, or $47,777 a carat, on Monday to Graff Diamonds, Vancouver-based Lucara said in a statement.
While it’s significantly bigger than the 813-carat Constellation stone Lucara found at the same time, that stone sold for a record $63 million, or about $77,500 a carat.
The fate of the Lesedi, taken from the Karowe mine in Bot- swana, is a good example of how size isn’t the most important factor in the the diamond industry.
BMO Capital Markets had forecast that the diamond, which went unsold at a Sotheby’s auction in London last year, could sell for $75 million.