Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
1,109-Carat Diamond Expected to Sell for More Than $70M
The tennis ball-sized rough stone, which will be auctioned at Sotheby’s in June, could yield the largest top quality polished diamond in the world.

London--The tennis-ball sized rough diamond unearthed in Botswana in November is going up for auction at Sotheby’s London in June, and it is expected to sell for more than $70 million.
Discovered at Lucara Diamond Corp.’s Karowe Mine, the 1,109.67-carat stone, named “Lesedi la Rona,” or “Our Light,” is the largest rough diamond found since the 3,016.75-carat Cullinan Diamond in 1905. (The diamond was 1,111 carats when first unearthed but lost about 2 carats during the cleaning process, which is normal, a Sotheby’s spokesperson said.)
The Cullinan yielded nine major diamonds, all of which were set in the Crown Jewels of the United Kingdom, including the 530.20-carat pear-shaped Great Star of Africa. The Star is the largest “top quality,” meaning high color and clarity, polished diamond in the world. (The world’s largest cut and polished diamond of any color is the 545.67-carat Golden Jubilee, which is a brown stone.)
But the record held by the Star could soon fall.
Sotheby’s said it commissioned independent reports on the potential yield of Lesedi la Rona from the Gem Certification and Assurance Lab (GCAL), the New York-based grading laboratory run by Don Palmieri, and Diamex Inc./Crodiam Consulting DMCC.
While the reports are not being made public at this time, a few details were released on Wednesday, including the fact that experts believe that the Lesedi la Rona could top the Great Star of Africa in size.
The reports also state that there is a “high probability” that the polished diamonds cut from the 1,109-carat rough will be D color.

The Lesedi la Rona will be on view at Sotheby’s New York this coming Saturday, May 7. It will also be on view at the auction house in London between June 18 and 28.
The diamond will be offered for sale on the evening of June 29 at Sotheby’s London in an auction that’s open to the public, marking something else that’s unusual about this once-in-a-lifetime diamond find: that it’s being sold at an auction that’s open to the public, not limited to the trade.
“Every aspect of this auction is unprecedented,” David Bennett, the worldwide chairman of Sotheby’s jewelry division said. “Not only is the rough superlative in size and quality, but no rough remotely
The Latest

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.


The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.
They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

He previously served as co-chair of the nonprofit’s beneficiary committee.

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.

The diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.

Emmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.

The private equity firm has a plan to revive the mall staple.

The “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.

Claudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.

The new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.

The miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.

The California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.

The “Untamed” collection centers on carved gemstone jewelry depicting a range of animals embodying one of the four elemental forces.

Founded in 2004, the organization is now called the Community for Ethical Jewelry.

From Coco Gauff’s hoops to Madison Keys’ diamond medallion, these are Senior Editor Lenore Fedow’s standout jewelry looks of the season.

The trendy earrings feature asymmetrical drops, one with a grossular garnet and the other with a diamond.