The Lucara Diamond Corp Canadian-based company bought in 2010 a promising site in Botswana. The first diamond was unearthed two years later and the mine is named Karowe meaning Precious Stone in Tswana. In May 2015, the company renewed its detection technology by using six X Ray sensors from TOMRA brand. Each machine is capable of sorting 150 metric tons per hour.
Success is immediate and the exploration campaign in November 2015 achieves great results with the extraction through two consecutive days of three type IIa diamonds weighing respectively 1109, 813 and 374 carats. Following a contest that has excited the people in Botswana, the heaviest of these stones is named Lesedi la Rona meaning Our Light in Tswana.
Market practices are also changing. Lesedi la Rona escapes the specialized sales of rough diamonds and is auctioned by Sotheby's in London on June 29, lot 1.
The history of this exceptional stone will not stop there. The buyer will use it according to his will, of course, but he has no reason to leave it intact as a mineralogy specimen since other sensational gems shall inevitably follow. Lesedi la Rona was found at only 200 m under the surface.
Sotheby's is well established in the diamond industry through its subsidiary Sotheby's Diamonds partner of Diacore which is a specialist in cutting and polishing. Sotheby's made analyzed Lesedi la Rona by two other expert companies and the GIA stated that "this crystal has the potential to produce one of the largest top quality diamond that has ever been cut and polished".
The press release of 4 May announced an estimate in excess of $ 70M. The buyer will want to make a profit. Assuming that the jeweler manages to extract a single diamond from Lesedi la Rona, the end product will reach one of the highest prices in the art market in all categories.
Please watch the video shared by Sotheby's :