Most Expensive Diamond: Lucara Constellation
Even before the sale of their largest diamond, Lucara strikes a record auction.
In the diamond industry, all eyes seem to be on Lucara. They’ve just sold an 813 carat diamond, named The Constellation, for $63 million, which is an all-time record for the sale of a rough diamond. That isn’t the end of it, though. They’ve got an even bigger 1,109 carat one on its way to Sotheby’s in London on June 29. Anyway, what this sale does is set the benchmark for the coming sale, which is now leaving all collectors, observers and probably Sotheby’s auctioneers drooling at what possible unprecedented heights the next auction could reach.
The Constellation name was created as a part of a partnership with rough-diamond trading company Nemesis International DMCC, who, as a part of the sale, will ensure that Lucara will retain 10% interest in the net profit received from resultant polished diamonds sold. Both The Constellation and the Lesedi La Rona are considered Type IIa diamonds, making them some of the rarest and purest out there.
“We are very pleased with the result from the sale of this magnificent 813 carat diamond as well as the opportunity to further participate in profits earned when the polished product is sold. The sale of the 813 carat diamond is the highest price ever achieved for a rough diamond, breaking all records. This achievement solidifies our reputation in the jewelry industry as one of the most important sources of diamonds of the very highest quality. We look forward to the next stage of Lucara’s development with the sale of the spectacular 1,109 carat, Lesedi La Rona diamond which will take place at Sotheby’s London on June 29, 2016” said President and CEO William Lamb.
The effect was immediate. Lucara shares had soared by 8.58 percent by mid-afternoon on the Stockholm market. With high expectations abound, the sale of the Lesedi La Rona is sure to be something to anticipate.