When Lucara Diamond Corp unearthed the stone in its Karowe mine in Botswana in November 2015 a ripple of excitement went around the globe as a palpably jubilant Company unveiled its mystique and built the story around the stone over the next few months. 

After all, at 1,109 cts, it was the largest diamond to be found in more than 100 years; and second only to the Cullinan Diamond, which weighed in at 3016.75-carats in the rough, when it was mined in South Africa in 1905. However, that magnificent stone has been cut and polished into nine individual gems which now form part of the Crown Jewels of the United Kingdom. The largest amongst these – indeed in the world, as top-quality polished diamonds go – is the Great Star of Africa weighing 530.20 carats.

Lucara’s great find was dubbed “Lesedi la Rona” (“Our Light” in the Tswana language spoken in Botswana) through a competition organised by Lucara by inviting entries; the competition was open to all citizens of Botswana.

Now, Sotheby’s has announced that Lucara has entrusted the sale of the unique, historical diamond to the auction house, which will take place through a stand-alone auction in London, on June 29, 2016.  The Lesedi la Rona is expected to attract a price in excess of US$ 70 million.

“According to a study by the Gemological Institute of America, the Lesedi la Rona’s “top colour and transparency exemplify the ‘limpid’ appearance commonly associated with type IIa diamonds” – a rare and coveted subgroup which comprises less than 2% of all gem diamonds,” declared Sotheby’s in its announcement about the sale. “Stones in this group are “the most chemically pure and often show extraordinary optical transparency”.”

Further, the auction house added: “Independent reports on the potential yield of the rough have also stated that the Lesedi la Rona may have the potential to yield the largest top-quality diamond that has ever been cut and polished. These reports have also stated that there is a high probability that the resulting polished diamonds will be “D” colour – the highest colour classification for white diamonds.”

David Bennett, Worldwide Chairman of Sotheby’s Jewellery Division, commented: “The Lesedi la Rona is simply outstanding and its discovery is the find of a lifetime. It is a huge honour for Sotheby’s to have been entrusted with its sale. Every aspect of this auction is unprecedented. Not only is the rough superlative in size and quality, but no rough even remotely of this scale has ever been offered before at public auction”.

William Lamb, President and Chief Executive Officer of Lucara Diamond Corp., said: “We are very excited to be partnering with Sotheby’s on this landmark auction. Lucara has made innovation the cornerstone of its development strategy and this has led to the historic recovery of the Lesedi la Rona diamond. The forthcoming sale presents a unique opportunity to present this extraordinary diamond to a worldwide audience.”

Sotheby’s announced that the Lesedi la Rona will be on view at Sotheby’s New York on   May 7, and at Sotheby’s London from June 18-28, ahead of its auction in the evening of 29 June.

Pic Courtesy Sotheby’s