The largest rough diamond unearthed in more than a century, and the second largest in history, has been unveiled by Graff Diamonds
Last year, London-based jewellery company Graff Diamonds acquired the 1,109-carat Lesedi La Rona rough diamond. The 2016 purchase was a US$53 million deal and—as it turns out—a steal, with the rough originally boasting an estimate of more than US$70 million.
Usually rough diamonds are sold privately to dealers who cut and polish them into finished gems, but William Lamb, then-CEO of Lucara Diamond Corporation, decided to sell the discovery in a standalone public auction at Sotheby’s London, which proved risky–much to the delight of Graff Diamonds.