Sourcing

910-Carat Rough Diamond Sells for $40M

SourcingMar 13, 2018

910-Carat Rough Diamond Sells for $40M

It’s the fifth-largest diamond ever found and has been named “The Lesotho Legend.”

The 910-carat diamond found in January sold Monday for $40 million, or $43,956 per carat. It is the fifth-largest rough diamond on record.

London--The fifth-largest diamond on record has a new owner and a new name, mining company Gem Diamonds Ltd. announced Tuesday morning.

The 910-carat diamond—said to be a Type IIa, D color stone—recovered in January from the Letšeng mine in Lesotho was sold at tender in Antwerp Monday for $40 million and dubbed “The Lesotho Legend.”

The diamond’s sale price works out to $43,956 per carat, putting it well below the world record per-carat price for a rough diamond, $77,649. That was set by the 812.77-carat Constellation, mined by Lucara Diamond Corp. in Botswana.


Another shot of the 910-carat diamond provided by Gem Diamonds
A Gem Diamonds spokesperson told National Jeweler Tuesday morning that Samir Gems, an Antwerp-based supplier founded in 1982 and run by the Bhansali family, purchased the stone with partners.

In a company news release, CEO Clifford Elphick said the company is “delighted” with the sale of the 910-carat diamond, which reaffirms the “unique quality of the Letšeng diamond production.”

A video of the diamond can be viewed at GemDiamonds.com.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

MajorsAug 04, 2021
Industry Icon and Longtime Buyer Margie Bucki Dies

The former Sterling and Zales employee was known for being firm but fair, a great teacher to her employees, and full of love.

MajorsAug 04, 2021
Piercing Pagoda Has a New Name

Plus, Signet took the final step in the process of fully outsourcing its credit offerings.

TrendsAug 04, 2021
Amanda’s Style File: August’s First Birthstone

Before spinel joined the August birthstone lineup, peridot reigned supreme.

Brought to you by
How to Build a Successful Multi-Generational Jewelry Business

RDI Diamonds CEO Michael Indelicato shares his advice for taking a family business to the next level.

IndependentsAug 04, 2021
JA Welcomes New Board Chair, Elects 5 New Directors

Bob Moeller of R.F. Moeller Jeweler takes over as chair of the trade association’s board.

Weekly QuizJul 29, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of July 26-30, 2021.
Take the Quiz
EditorsAug 03, 2021
Did Ben Affleck Just Commit a Cardinal Jewelry Sin?

Senior Editor Ashley Davis points out that J. Lo isn’t the first object of Affleck’s affections to wear Foundrae.

ColumnistsAug 03, 2021
Squirrel Spotting: 5 More Pointers From ‘The Sales Minute’

Peter Smith shares additional tips from his new book, which include thoughts on avoiding negative people and using hand gestures.

Brought to you by
3 Reasons Why You Should Start Appraising This Summer

Create appraisals with the Jewelry Appraisal Solution on the Zing by Jewelers Mutual Group® platform and leverage the expertise of Gemworld.

Policies & IssuesAug 03, 2021
5 Things Retailers Should Know About COVID-19 Safety

As the Delta variant spreads rapidly, some retailers are reinstating mask mandates and requiring employees to get vaccinated.

×