The 1,109-carat Diamond, “Lesedi La Rona” on Auction in London, No Sale

The 1,109-carat Diamond, “Lesedi La Rona” on Auction in London, No Sale

The 1,109-carat Diamond, “Lesedi La Rona” on Auction in London, No Sale


A now famous 3-billion-year-old diamond the size of a tennis ball found by Canada’s Lucara Diamond (TSX:LUC) last year failed to sell a Sotheby’s (NYSE:BID) Wednesday in London. The highest bid of $61-M did not meet the reserve selling price.

The giant 1,109-carat diamond, known as “Lesedi La Rona” or “our light” in the Tswana language spoken in Botswana, was discovered in November at Lucara’s Karowe mine.

William Lamb, the company’s CEO is urging the potential buyer of the massive gemstone, which could yield a flawless 400-carat gem or a 550-carat diamond with impurities to leave it untouched.

In its present form, the precious stone has “untold possibilities,” he said Tuesday.

World’s largest diamond found in 100 years goes under the hammer

The diamond is the biggest of 112 gems larger than 100 carats that Lucara’s Karowe mine in Botswana has delivered over the past 3 years.

Last year, Lucara recovered 47 stones larger than 100 carats at its only producing mine.

By contrast, the world’s largest diamond producer by output, Russia’s Alrosa Co., recovered 46 stones larger than 100 carats over the past 3 years at separate mines.

Lesedi La Rona is a type IIa diamond, the largest discovered in 100 years, and 2nd in size only to the Cullinan diamond in the British Crown jewels.

Botswana is the world’s largest producer of diamonds and the trade has transformed it into a middle-income nation.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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