507 Carat Cullinan Heritage Highest Priced Diamond
February 28th, 2010 - 9:03 pm ICT by GDBy Madhuri Dey
Pretoria, Feb 28, (THAINDIAN NEWS) A jewelry company, based in Hong Kong, recently bought a 507 carat diamond for the staggering amount of $35.3 million, a record price that has ever been paid for an uncut diamond. Originally, it was being estimated that the diamond would be fetching about $25 million, but the bids that had been placed for the diamond obviously took the price up. However, although the diamond holds the record of being the highest priced in the world so far, it is not the biggest one. The exorbitant price of the diamond can be explained if one keeps in mind the combination of the size of the stone, and also the exceptional clarity despite being an uncut diamond.
Called the “Cullinan Heritage,” the diamond had been discovered in the Cullinan mine in South Africa. It had been discovered by the mining company called Petra last year. According to the chief executive of Petra, Johan Dippenaar, the diamond is potentially going to produce one of the largest and finest piece of gems ever produced. However, it has not yet been reported what will ultimately be done with the diamond.
The jeweler which has bought the diamond is called The Chow Tai Fook Jewelry Company Limited. Weighing exactly at 507.5 carats, it ranks 19th in terms of size in the world. This is one of the largest diamonds to have been discovered from the Cullinan mine, which is possibly most famous for producing some of the largest diamonds in the world. The proceeds from the deal would provide a great boost to the year end profits of Petra Diamonds.
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Tags: carat diamond, carats, chief executive, chow tai fook, clarity, cullinan, dey, diamonds, exorbitant price, gems, jeweler, jewelry company, johan, madhuri, mining company, pretoria, proceeds, profits, south africa, year end