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121-Carat Rough Diamond From Cullinan Goes for $6 Million
Petra Diamonds Limited announced that the white diamond, recovered in South Africa last month, garnered $49,480 per carat during its June sales process.
Johannesburg--The most recent large diamond find from South Africa’s Cullinan mine, a 121-carat rough recovered in June, has sold.
Petra Diamonds Limited announced that the white diamond went for $6 million, or $49,480 per carat, during the company’s June sales process.
The rock was purchased by diamond manufacturers Nemesis International and Golden Yellow Diamonds in a joint venture. Both companies specialize in large diamonds.
The sale comes in the wake of last week’s failed Sotheby’s auction of a 1,109-carat rough diamond found at Lucara Diamond Corp.’s Karowe mine in Botswana.
Called “Lesedi la Rona,” it was the second-largest rough diamond ever found.
Lucara chose to sell the Lesedi la Rona at a public auction, instead of a normal tender within the diamond market, to ascertain whether buyers would be interested in a rough diamond as a collectable, similar to high-value art.
Bidding for the stone failed to meet its reserve.
Lucara had better luck with its 812.77-carat rough diamond, also mined from Karowe, named “The Constellation,” which sold in a traditional diamond-industry-only tender for $63.1 million, or $77,649 per carat, in May.
The Constellation also sold to Nemesis International, one of the buyers of the 121-carat Cullinan rough diamond.
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