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Lesotho Legend, 5th Largest Diamond Gem, Sells for $40 Million

Image: Lesotho Legend, 5th Largest Diamond Gem, Sells for $40 Million

(Gem Diamonds)

By    |   Tuesday, 13 March 2018 01:22 PM

The "Lesotho Legend," the world's fifth largest diamond gem, has sold for $40 million, Antwerp Gem Diamonds of Belgium said Tuesday in a statement.

The 910-carat diamond was recovered from the company's Letseng mine in the southern African country of Lesotho in January, the company stated.

"We are delighted with the outcome of the sale of this iconic diamond, which demonstrates the exceptional quality of The Lesotho Legend itself, as well as reaffirming the unique quality of the Letšeng diamond production," Clifford Elphick, Gem Diamonds' chief executive officer, said in the company's statement.

According to Bloomberg, the diamond is about the size of two golf balls and was discovered in a mine that is well-known for producing diamonds of size and quality that achieve some of the highest average selling prices in the world.

Gem Diamonds sold a 357-carat stone for $19.3 million in 2015 and, in 2006, found the 603-carat Lesotho Promise, Bloomberg added. This year alone, the company has found six diamonds larger than 100 carats, putting it on track for its best year yet.

The Letšeng mine, located in the Maluti Mountains of Lesotho, was purchased by Gem Diamonds in 2006, according to its website. It has produced more than 60 100-plus carat diamonds, mostly "high value, white diamonds," the company said.

The Economic Times reported that the Lucara Diamond Corp. fetched a record $63 million for an 813-carat stone last year and $53 million for the 1,109-carat diamond it found at the same time, the second-largest in history.

Many shared the news of the sale on social media.

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The "Lesotho Legend," the world's fifth largest diamond gem, has sold for $40 million, Antwerp Gem Diamonds of Belgium said Tuesday in a statement.
lesotho legend, diamond, gem, sells, millions
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2018-22-13
Tuesday, 13 March 2018 01:22 PM
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