Sell Diamond Boca Raton
Mining for diamonds is a constant and fluid situation. There are hundreds of diamond mines all over the world looking for a big score. Most stones found are a few carats, some can be 10 carats plus and every once in a while you find a huge score. Well that’s exactly what happened when William Lamb, president and CEO of Lucara Diamond Corp, answered his phone at 1:30 in the morning Monday night. He found out that workers at Karowe Mine in Bostwana found a gem-quality diamond weighing a whopping 1,111 carats! It will go down in the record books as the second largest gem-quality diamond ever discovered. The Cullinan Diamond, discovered in 1905, holds the record for biggest gem-quality diamond ever sold. It weighed 3,106 carats. Sell Diamond Boca Raton.
In July, Lucara sold a 342-carat rough diamond for $20.5 million. The most recent score was found in the same area, the mine’s south lobe. That area of the mine has actually brought three diamonds that weigh more than 300 carats this year! According to an interview with National Jeweler, Lamb was “very, very surprised”. He has seen 300, 400, even 500 carat diamonds before, but 1,000 is a new animal.
The diamond itself measures approximately 65 mm x 56 mm x 40 mm. It was actually too large to fit in any of the evaluation machines that are on site at the mine. Instead they are going to have to send the stone to Antwerp for further evaluation. Lamb himself hasn’t seen the stone yet, but from what his employees on site tell him, it is going to be either D, E, or F color, making it extremely rare and extremely expensive. It is also assumed to have a high clarity grade as well. When asked about price, Lamb said it is “almost impossible” to put a number on it because it hasn’t been evaluated yet. Plus it’s so rare to find a stone over 1,000 carats that itself could add a huge premium.
Recent large stones that sold have fetched a ton of money. In 2006 a 603-carat diamond nicknamed “Lesotho Promise” sold for $12.4 million. Then in 2010 a 507-carat diamond sold for $35.3 million. In my opinion, if the stone is as advertised, I would expect it to sell upwards of $100 million. Not only is it much bigger than the two previous two stones, it has cultural significance because it is the second biggest ever found.
Lucara only accounts for 0.83% of all diamonds mined in the world. But they find a large percentage of what people would consider large stones. They found the 1,111-carat diamond using Large Diamond Recovery (LDR) XRT Machines. The machines scan material that hasn’t been cleaned yet and looks for large chunks of carbon.
Interestingly enough, another huge diamond was also found this week. In Vancouver, a 813-carat stone was found.
With the increase of technology, I only expect larger and larger diamonds to be found. It makes looking for diamonds faster and recovering them easier. The 3,106 carat found in 1905 has a long time before it is beat, but it will be one day.
