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World's Second Biggest Diamond Sells for $53 Million

The stone -- Lesedi La Rona has been identified by the Gemological Institute of America (GIA) as possessing exceptional quality and transparency.

Kabir Goswami | @kabirgoswami

Updated:September 26, 2017, 6:21 PM IST
World's Second Biggest Diamond Sells for $53 Million
Photo credits: @GraffDiamonds/Twitter
World’s second biggest, a 1,109-carat uncut diamond - Lesedi La Rona - was sold for $53 million at a private auction. The diamond was bought by Canada-based Graff Diamonds on Monday.

The Lesedi La Rona, or “our light” in the Tswana language, went unsold at a Sotheby’s auction in London last year.

“Following successful negotiation with Lucara Diamond Corp, Laurence Graff has acquired the world’s most valuable rough diamond – the Lesedi La Rona – weighing a record-breaking 1,109 carats,” Graff Diamonds said in a statement.

“We are thrilled and honoured to become the new custodians of this incredible diamond,” said Graff.

“The deal was closed with a handshake after more than a year of negotiations,” Graff added in its statement.

The stone has been identified by the Gemological Institute of America (GIA) as possessing exceptional quality and transparency.

Lucara, the original owner of the diamond had expected to sell it for about $86 million. After it failed to find any buyer in the first auction held last year, decided to hold a second auction, in which it received the highest bid of $53 million.

The Lesedi La Rona is second in size to the world’s largest diamond – Cullinan Diamond. The 3,106 carat Cullinan was discovered in South Africa in 1905. It was eventually cut into smaller stones, some of which are now part of Britain’s Crown jewels.

Graff diamonds, known to produce some of the world’s best diamonds and stones, earlier this year, had purchased a remarkable 373-carat rough diamond that was originally part of the Lesedi La Rona rough.
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