Petra Diamonds Sells 507 Carat Diamond for $35 million

Petra Diamonds Sells 507 Carat Diamond for $35 million

As a child it used to surprise me how diamond as stones could command such huge sums of money. Over a period of years, I did realize why this particular carbon compound is called Woman’s Best Friend. We know peanut sized solitaires are pricey, but ever wondered how much small uncut rock diamonds would cost? The answer is mind-boggling $35.33 million.

The African Diamond mining group, Petra Diamonds, declared that the stone commanded a price of $69,557 per carat. Hailed as the “Cullinan Heritage”, the uncut stone was bought by Hong Kong based Chow Tai Fook Jewellery Company for the highest sale price ever. During the pre-sale phase, experts estimated the price to touch $25 million but they still went wrong with what the biggest high-quality rough diamond could ask for. It’s the world’s 19th largest gem diamond ever discovered.

Also, let us not forget that finished version’s price will definitely soar above the rough diamond. It was hatched in the Cullian Mine which is known for churning may large diamonds including the one set in Britain’s Clown of Jewels.

Reuters Via Luxist

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