Massive diamond worth $70 mn to go under hammer

Head of Sotheby’s international jewelery division, David Bennett holds the hammer during a “Magnificent Jewels and Noble Jewels” sales at the auction house on November 11, 2015 in Geneva. All eyes will turn to Sotheby’s when its prized lot, dubbed “Blue Moon” with an estimated sale price between USD 35-55 million (about 32 597 560 to 51 224 737 euros) that will aim to shatter the record for a stone sold at an auction. AFP PHOTO /

NEW YORK , United States (AFP) — A massive diamond valued at more than $70 million will go under the hammer in London next month, the Sotheby’s auction house said Wednesday.

Known as “Lesedi la Rona,” it was found nine months ago in Botswana by the Lucara Diamond Corp.

“It’s a 1,109-carat diamond,” said David Bennett, worldwide chairman of Sotheby’s International Jewellery Division said in unveiling it.

“This is the largest discovered in over a hundred years.”

He added it was the first time a rough diamond of this size will go on auction.

The massive gem will be shown in New York until Sunday before leaving for Europe. It is due to go on display at Sotheby’s in London June 18 to 28.

The record for the biggest diamond in the world is still held by the legendary “Cullinan Diamond.” Boasting 3,016.75 carats, it was discovered in South Africa in 1905 and was transformed into nine diamonds for the British crown jewels.

Once it is snapped up by a bidder, the “Lesedi la Rona” could be turned into jewelry, or left as-is for a private collection.

On the same day as its discovery, another 830-carat diamond was found in Botswana, the third largest in the world, William Lamb, Lucara’s president and chief executive, told AFP.