Large Rough Uncut Diamond Sold For $35 Million

507-Carat-Diamond


Talk about the goose that laid the golden egg. In September 2009 a huge diamond the size of a chicken egg was discovered in South Africa. A private jewelry retailer from Hong recently bought it for over $35 million. This was a record price that anyone has ever paid for a rough uncut diamond.

The diamond revealed its beauty within the Cullinan mine, located less than an hours drive North East from Johannesburg. The 507 carat diamond weighs about 100 grams (just over 3.5 ounces) and although big, it pales in comparison to the 3,106 carat Cullinan Diamond found in the same location. At almost 1.4 pounds, the Cullinan is over six times as big is the one in the picture.

Although large diamonds are extremely rare, South Africa’s Cullinan Mine seems to be that golden goose be

cause it has produced a few golden “eggs”. The 507 carat rough diamond sold to the Hong Kong jeweler is the 19th largest diamond ever discovered. In fact when this diamond was found in September, it was accompanied by three other large diamonds ranging between 53 carats (1.87 oz.) and 168 carats (5.92 oz).

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The large Cullinan Diamond was cut into smaller pieces including the “Great Star of Africa” and the “Lesser Star of Africa”, which is now part of Britain’s crown jewels.

Just think…early in 2009 diamond prices fell by over 60% from its highs in June/July 2008. If you had $50 million dollars to spend on diamonds in 2008 you would have made a $20 million profit in less than two years. The diamond market is continuing to show signs of recovery so you could double your profit sooner than you think.

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