A diamond of unparalleled size, the largest found in over 100 years, has been unearthed, and experts suggest that this colossal gem could fetch a price exceeding $100 million.
Botswana’s president, where the remarkable diamond was discovered by miners, proudly displayed the massive stone, which weighs approximately one pound and measures 2,492 carats, during a viewing event held this week.
While officials indicated that it’s too soon to appraise the gem or determine how it will be sold, insiders linked to Lucara, the Canadian company responsible for the discovery at its Karowe Mine, speculated that the diamond’s value could surpass $40 million.
However, some within the industry believe this estimate might be on the low side, considering the diamond’s extraordinary size. Leading diamond expert Fred Cuellar pointed out that in 2016, a smaller diamond from the same mine in Botswana was sold for $63 million.
Cuellar likened diamond pricing to real estate, explaining, “What is a similar house sold for in the neighborhood?” He speculated that the diamond’s worth could range between $100 million and $160 million.
According to Cuellar, the diamond likely contains one “breathtaking” primary stone, along with six or seven additional stones.
Before this week’s discovery, the Sewelo diamond, also extracted from the Karowe Mine, held the title of the second-largest diamond ever mined, weighing in at 1,758 carats. It was purchased by the French luxury brand Louis Vuitton for an undisclosed sum.
The largest diamond ever found remains the Cullinan Diamond, discovered in South Africa in 1905. Valued at $400 million at the time, it weighed 3,106 carats and was cut into gems, some of which are part of the British Crown Jewels.
The newly discovered diamond, which has yet to be named, was unveiled to the public at the office of Botswana President Mokgweetsi Masisi, who was among the first to hold it.
“It is overwhelming,” Masisi remarked. “I am lucky to have seen it in my time.” He gasped, exclaiming “wow,” and invited senior government officials to take a closer look.
The Karowe Mine has yielded four other diamonds weighing over 1,000 carats in the past decade. Lucara revealed that this latest extraordinary find was made using X-ray technology.
{Matzav.com}