Until the 18th century, it is thought that diamonds could only be sourced from India, the location they were first found in over 3000 years ago. As the diamond supply in India ran out, the elite society and royalty who had once treasured the diamonds needed to find an alternative source. It wasn’t until the late 19th century that large diamond mines were discovered in South Africa, with this discovery steadily increasing the global supply of the precious jewel.
Over the years, more and more diamond mines have been discovered, catering to the millions of people who source diamonds for themselves and their loved ones. Diamond jewellery has become a significant cultural statement within romantic relationships, however, that’s not the only reason diamonds are of interest to people. Significant diamond discoveries of rare varieties continue to enthrall collectors, consumers and designers all over the world.
The diamond of Botswana
One such find was one of the largest diamonds ever found, discovered in Botswana. Discovered by the mining company Lucara, the diamond is a whopping 1,111 carats. It is in fact the largest diamond found in over a century, and is almost the size of a tennis ball. The significance of such a find should not be underestimated. However, determining the diamonds worth can pose challenges. A diamond’s value depends on its colour, clarity and cut, however it is impossible to determine the actual worth of this large gem. However, as reference, a 341.9 carat diamond was found and sold in July of 2015 for $20.6 million USD.
The sale of this find in Botswana isn’t likely to happen very soon. The value of the gem, plus the buyer, will vary greatly on the size and quality of the segments that can be cut from it. Lucara estimate that it may take years of cutting and polishing before it is eventually sold to a final owner. In general, a diamond like this would be purchased by a jeweller and computerised scanning technology would be able to help determine how to most profitably cut the stone and mount the pieces into jewellery.
The Lesotho Promise
Another stone of great significance was the Lesotho Promise. Cut into 26 flawless diamonds, it included a single 76.4 carat pear-shaped gem, with al pieces being set into a single necklace. The piece was sold for the reasonable price of $12.4 million USD. Like this exclusive piece, the recent find at 1,111 carats is likely to be purchased by an ultra-elite diamond collector of a high net worth. There will be a large reputation boost to the buyer, who will be in possession of the largest diamond not part of a royal collection.
Joseph Lau’s diamond shopping spree
Other great diamond purchases were by Hong Kong billionaire Joseph Lau. In 2015, he went on a shopping spree over two days to purchase two diamonds. The first was a 16.08 carat pink diamond that he paid 28.7 million Swiss francs for, which he renamed ‘Sweet Josephine’. The next day, he spent a record 48.6 million francs at Sotheby’s auctions in Geneva on a 12.03 carat blue diamond, re-named the ‘Blue Moon of Josephine’. The second purchase was the most ever spent on a jewel at an auction, and the purchases were all for Lau’s daughter Josephine, aged seven years of age.
The Cullinan diamond
However, the largest diamond ever discovered was the 3,106 carat Cullinan. Found near Pretoria in South Africa in 1905, it was named after Sir Thomas Cullinan, who opened the mine it was discovered in. It was cut to form several stones such as the Great Star of Africa, which is now placed in the Sovereign’s Royal Sceptre as part of the Crown Jewels, currently on display in the Tower of London. Other stones created from the Cullinan are also set in the Crown Jewels of Britain.
Exotic diamonds in modern day
With many exclusive and rare diamonds found in the past, it’s no wonder why people are always fascinated when new and exotic large-sized diamonds are found in the modern day era. Because diamonds are no longer exclusive to royalty, it’s always impressive to see which elite member of the diamond buying world will buy the next biggest find.
by Australian Diamond Brokers : December 11th 2016 Come visit our store or browse our website to find out more.