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Property for sale by Auction A man holds up a large, rough diamond in a series of three images. In the left image, he is smiling and examining the diamond closely. The top-right image shows a close-up of his hand holding the diamond. The bottom-right image shows him smiling and displaying the diamond. Presented by World of Auctions

Unearthing Brilliance: Century’s Largest Diamond Discovery in Botswana Set to Sparkle the Auction Market

Introduction!!! 

In a momentous event that has sent ripples through the world of gemmology, the largest diamond in over a century has been unearthed in Botswana. This extraordinary find, a glittering testament to the hidden treasures of our planet, is set to redefine the landscape of the diamond industry.

 

A Historic Discovery

The diamond, a dazzling spectacle of nature’s artistry, is the largest to be discovered since the iconic Cullinan diamond, which weighed a staggering 3,106 carats. The Cullinan, discovered in South Africa in 1905, previously held the record for the largest rough diamond ever found. It was later cut into several polished gems, the two largest of which adorn the British Crown Jewels.

Property for sale by Auction A close-up image of a royal crown adorned with numerous jewels, including diamonds and emeralds. The crown rests on a purple velvet cushion. The background is blurred, highlighting the intricate details and opulence of the crown. Presented by World of Auctions
A close-up image of a royal crown adorned with numerous jewels, including diamonds and emeralds. The crown rests on a purple velvet cushion. The background is blurred, highlighting the intricate details and opulence of the crown. Presented by World of Auctions

The New Discovery

A massive 2,492-carat diamond has been mined in Botswana, making it the largest diamond found in 119 years and the second-largest ever mined after the Cullinan Diamond.

On Saturday 24 Aug 2024. The largest diamond found in more than a century has been unearthed at a mine in Botswana, and the country’s president showed off the fist-sized stone to the world . The Botswana government says the huge 2,492-carat diamond is the second-biggest ever discovered in a minely half a kilogram, this gem is a testament to the advancements in diamond recovery technology, specifically the Mega Diamond Recovery (MDR) and X-ray transmission (XRT) technology installed at the Karowe Diamond Mine in Botswana.

Property for sale by Auction A man in a suit holds up a large, uncut diamond with both hands, examining it closely. The diamond is transparent and fills the space between his hands, showcasing its size and clarity. The man is indoors, possibly at an event or press conference. Presented by World of Auctions
A man in a suit holds up a large, uncut diamond with both hands, examining it closely. The diamond is transparent and fills the space between his hands, showcasing its size and clarity. The man is indoors, possibly at an event or press conference. Presented by World of Auctions

 

 

Record-Breaking Auction Prices

Property for sale by Auction A large statue featuring three prominent figures stands on a pedestal under a partly cloudy sky. The figures are labeled "KHAMA I," "SEKELET," and "KHAN II." Modern buildings are visible in the background. Presented by World of Auctions
A large statue featuring three prominent figures stands on a pedestal under a partly cloudy sky. The figures are labelled “KHAMA I,” “SEKELET,” and “KHAN II.” Modern buildings are visible in the background. Presented by World of Auctions

 

The highest value ever fetched by a diamond at auction is held by the “Pink Star”. This 59.60-carat pink diamond was sold for a record-breaking $71.2 million at Sotheby’s in Hong Kong in 2017. The Pink Star set a world record for any diamond or jewel at auction, underscoring the immense value and allure these precious stones hold.

Property for sale by Auction A glamorous ring featuring a large, vibrant pink diamond in the center with a rectangular cushion cut. It's flanked by two smaller, clear diamonds, all set in a metal band. The design includes intricate detailing and smaller pink and white accent diamonds. Presented by World of Auctions
A glamorous ring the Ultra rare Williamson Pink Star Diamond featuring a large, vibrant pink diamond in the center with a rectangular cushion cut. It’s flanked by two smaller, clear diamonds, all set in a metal band. The design includes intricate detailing and smaller pink and white accent diamonds. Presented by World of Auctions

Rare-diamond-Williamson pink star Sparkles at Hong Kong auction

 

Potential Value of the New Diamond

The newly discovered 2,492-carat diamond is estimated to be worth between $40 million and $60 million, depending on factors such as its quality, clarity, and potential for cutting into smaller gems. This valuation highlights the significant economic impact this discovery could have on Botswana, where diamonds account for 80% of exports.

 

Predictions for the Future

As for the future of diamond prices at auction, experts predict a steady rise over the next twelve months. The discovery of this new diamond in Botswana is likely to fuel excitement and demand in the auction market. However, the value of a diamond is determined by a combination of factors including its size, colour, clarity, and cut. The rarity of large, high-quality diamonds like the one discovered in Botswana often leads to competitive bidding, driving prices up.

Moreover, the diamond industry has been showing signs of recovery after the pandemic-induced slump. With economies around the world rebounding, the demand for luxury goods, including diamonds, is on the rise. This, coupled with the allure of this new find, could lead to a surge in diamond prices at auctions.

 

Technological Advancements

The ability to recover such a massive, high-quality stone intact demonstrates the effectiveness of modern diamond recovery technology and the commitment to maximizing value for shareholders and stakeholders. This technological advancement is likely to continue shaping the future of gemstone mining, allowing for the extraction of larger diamonds without breaking them into pieces.

A close-up image shows a clear, transparent quartz crystal in the shape of a pyramid. The crystal has well-defined edges and a smooth surface with slight natural imperfections. It is isolated against a white background. Presented by World of Auctions
A close-up image shows a clear, transparent quartz crystal in the shape of a pyramid. The crystal has well-defined edges and a smooth surface with slight natural imperfections. It is isolated against a white background. Presented by World of Auctions

 

 

Conclusion

In conclusion, the discovery of the largest diamond in over a century in Botswana is a historic event that is set to invigorate the diamond auction market. As we look to the future, the sparkle of this extraordinary find is likely to illuminate the path to a prosperous and exciting period for diamond enthusiasts and investors alike. The combination of technological advancements, economic recovery, and the inherent allure of such a rare gem promises a bright future for the diamond industry.

This discovery not only underscores the continued significance of Botswana’s diamond sector but also highlights the potential for future finds that could further enhance the appeal of natural diamonds in a market increasingly challenged by lab-grown alternatives. The diamond industry, supporting the livelihoods of millions and contributing to global economic growth, stands on the brink of a new era of brilliance and prosperity.

By Edward Swindells, Lead Auctioneer at World of Auctions