CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
SourcingSep 26, 2017
Graff Pays $53M for 1,109-Carat Rough Diamond
The sale price works out to nearly $48,000 per carat for the Type IIa “Lesedi La Rona,” which is the second largest rough diamond ever found.
Lucara Diamond Corp. found this 1,109-carat rough diamond, later dubbed “Lesedi La Rona,” at the Karowe Mine in Botswana in November 2015. On Monday, the company announced that it had found a buyer for the stone--Graff Diamonds.
New York--Almost exactly two years after its discovery, Lucara Diamond Corp. has found a buyer for the “Lesedi La Rona,” the 1,109-carat rough diamond unearthed at its mine in Botswana.
The mining company announced late Monday that Graff Diamonds, the London-headquartered company headed by billionaire diamantaire Laurence Graff (no relation to the author), has paid $53 million for the tennis ball-sized stone.
That works out to $47,777 per carat and is $17 million less than what Lucara originally aimed to get for the diamond when it put it up for auction in June 2016, though Lucara President and CEO William Lamb noted that $53 million is more than the highest bid received at the auction.
In the news release issued Monday, Graff called the purchase of Lesedi La Rona a “momentous day” in his career.
“We are thrilled and honored to become the new custodians of this incredible diamond. The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties. This is a momentous day in my career, and I am privileged to be given the opportunity to honor the magnificent natural beauty of Lesedi La Rona,” he said.
Graff Diamonds already owns a 373.72-carat chunk that broke off the Lesedi La Rona. The company paid $17.5 million for that rough diamond ($46,827 per carat) at Lucara’s exceptional stone tender held in May.
The mining company announced late Monday that Graff Diamonds, the London-headquartered company headed by billionaire diamantaire Laurence Graff (no relation to the author), has paid $53 million for the tennis ball-sized stone.
That works out to $47,777 per carat and is $17 million less than what Lucara originally aimed to get for the diamond when it put it up for auction in June 2016, though Lucara President and CEO William Lamb noted that $53 million is more than the highest bid received at the auction.
In the news release issued Monday, Graff called the purchase of Lesedi La Rona a “momentous day” in his career.
“We are thrilled and honored to become the new custodians of this incredible diamond. The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties. This is a momentous day in my career, and I am privileged to be given the opportunity to honor the magnificent natural beauty of Lesedi La Rona,” he said.
Graff Diamonds already owns a 373.72-carat chunk that broke off the Lesedi La Rona. The company paid $17.5 million for that rough diamond ($46,827 per carat) at Lucara’s exceptional stone tender held in May.
Another photo gives a better idea of the size of the rough diamond dubbed “Lesedi La Rona,” which is said to be about as big as a tennis ball.
Lucara recovered the Lesedi La Rona, a Type IIa diamond that actually totaled 1,111 carats before cleaning, at its Karowe mine in Botswana in November 2015.
The citizens of Botswana participated in a naming contest after the diamond was found. Its name means “our light” in Setswana.
Lesedi La Rona is the second largest rough diamond ever found, topped only by the 3,106-carat Cullinan Diamond unearthed in South Africa in January 1905.
On Monday, Lamb called the discovery of the stone a “company-defining event” for Lucara and said: “We took our time to find a buyer who would take the diamond through its next stage of evolution. Graff Diamonds is now the owner of the Lesedi La Rona as well as the 373-carat diamond … We are excited to follow these diamonds through the next stage of their journey.”
More on Sourcing
The Latest
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
