The fifth-largest diamond in history sells for $40 Million

The fifth-largest diamond in history sells for $40 Million

The fifth largest diamond in the world — 'Lesotho Legend', which weighs 910-carat, was sold to an unnamed buyer in Antwerp, Belgium, for a whopping $40 million.

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The fifth-largest diamond in the world — ‘Lesotho Legend’ weighs 910 carats. (Source: Thinkstock Images; this is a representational image.)

One of the biggest diamonds found till date has been sold for $40 million. The 910-carat ‘Lesotho Legend’ was sold in a tender to an unnamed buyer in Antwerp, Belgium, according to Gem Diamonds Ltd. The company found the stone, which is about the size of two golf balls, at its Letseng mine in the African country this year.

The company owns 70 percent of the Letseng mine, which is a location known for its production of white diamonds. The ‘Lestho Legend’ has been classified as a D colour, Type IIa diamond with the highest colour and quality ratings.

It is the largest diamond that has been recovered from the mine by the company. But there are other companies that have sold for more — Lucara Diamond Corp got a record of $63 million for an 813-carat stone last year and $53 million for a 1,109-carat diamond, which they found around the same time — it was the second biggest diamond in history.

The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world. Gem Diamonds Ltd sold a 357-carat stone for $19.3 million in 2015 and in 2006, they found the 603-carat ‘Lesotho Promise’.

Following the sale, Gem Diamonds CEO Clifford Elphick said in a statement that it’s purchase has reasserted “the unique quality of the Letšeng diamond production”. So far this year, the company has found six diamonds bigger than 100 carats, putting it on track for its best year yet.