Expensive

Canada’s Lucara, The Second Biggest Diamond of the World Sells for $53 Million

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The second biggest diamond of the world has finally found a buyer. The diamond, after failing to sell at Sotheby auction last year, sells for the luxury price of $53 million. Tennis ball-sized diamond is 1,109 carat, which is also the largest uncut diamond in the world. It was bought by the British diamond dealer Graff Diamond for more than $47,777 per carat. Now, the diamond will be polished and cut.

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The owner was hoped to receive about $70 million for this stone because of its large size. According to CEO of Lucara, William Lamb, that the price paid by the Graff is topped the highest bid received in the auction of Sotheby last year. But the diamond falls short of $63 million when Lucara received $63 million of 813-carat uncut diamond.

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On the other hand, Graff Diamonds have a very long history of buying very precious stones in millions of dollars. As they have bought 603-carat uncut diamond with the price of $12.4 million in Belgium in 2006. According to Laurence Graff, “The stone will tell us its story, it will dictate how it wants to be cut,” as he founded the company in 1960. So the Lucara announced the sale of the Lesedi La Rona after the market closed Monday, a day when its Toronto-listed shares slumped 1.7%.

The largest diamond of the world of the 3,106-carat size was discovered in 1905 in South Africa. So the stone was cut down into small pieces and some of these stones are now part of English Royal Family’s Crown Jewel.

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