Who will get to own the newly discovered Lulo Rose diamond? The 170-carat pink gem is such a rare find, the likes of Louis Vuitton or Graff could snap it up for US$100 million at auction
- The Lucapa Diamond Company just announced the discovery of a rare, 170-carat pink diamond in its mine in Angola, and CEO Stephen Wetherall said it’s a one in 10,000 discovery
- 77 Diamonds’ Tobias Kormind explained the buyer is likely to be a consortium of several parties, and that it could break the record for the most expensive diamond ever sold
Believed to be the largest diamond discovered in 300 years, a pink diamond of 170 carats was recently mined in Angola in central Africa. Found at the Lulo alluvial diamond mine, the pink gemstone has been named Lulo Rose. The discovery was announced on July 27.
Tobias Kormind, managing director of Europe’s largest online jeweller 77 Diamonds, believes there are several factors suggesting this diamond could break all auction records for a diamond sale. He said in a statement: “This world-class diamond holds the potential to fetch a record-busting US$100 million and attract a glamorous partnership deal hatched discreetly behind closed doors.”
“If it sells for over US$100 million, it would surpass the price paid for the most expensive diamond ever sold at auction – the CTF Pink Star, a 59.6 carat fancy vivid pink diamond which sold in 2017 for US$72.1 million at Sotheby’s Hong Kong. It all depends on the size, shape and colour quality that this rough stone yields and all will be fully revealed once it is cut and polished.”
A high cost is anticipated when the gem is eventually auctioned, but the price-setting process may take up to a year. Kormind continued: “The process could take a year and many industry insiders will be waiting with bated breath for the result.”
