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This $70-Million Diamond Probably Won’t Fit on a Ring

May 6, 2016
by Susan Shain
Senior Writer
Biggest diamond

Do you have a recently engaged friend who uses any excuse to flash her huge new rock?  

Well, better tell her to quit stunting, because there’s a new player in town.

The world’s second biggest diamond was recently discovered…

And it’s really huge, really old and really, really expensive.

Yup, a $70 Million Diamond

Clocking in at 1,109 carats, the Lesedi La Rona is the biggest diamond discovered in over a century — and the second biggest in history, Bloomberg reports.

If you need some perspective, it’s the size of a tennis ball.

Sotheby’s, which plans to auction the diamond on June 29, estimates it’s 2.5 to 3 billion years old and will sell for more than $70 million.

The diamond was uncovered in Botswana in November; its name means “our light” in the country’s Tswana language.

“It took months to determine even an estimated price, because it is so large that it does not fit into conventional scanners used to evaluate a stone’s potential worth,” CNN reports.

“Not only is the rough superlative in size and quality, but no rough even remotely of this scale has ever been offered before at public auction,” Sotheby’s Jewellery Division chairman David Bennett told CNN.

He called the diamond “the find of a lifetime.”

Want to see what $70 million and 3 billion years worth of rock looks like?

The diamond will be on display at Sotheby’s New York on May 7, and Sotheby’s London from June 18 to 28.

If you’d like to find a stone of your own, don’t forget you can go jewel prospecting at these parks and mines, including the promisingly named Crater of Diamonds State Park.

Your Turn: Can you believe this diamond is worth so much?

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

by Susan Shain
Contributor for The Penny Hoarder

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