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Petra Diamonds' 507-carat diamond broke record of highest sale price for a rough : Read more
Company: »Petra Diamonds UK      News Date: 2010-02-27      « Back

The diamond sold for $35.3 million

The 507-carat diamond recently put up for sale by Petra Diamonds, sold for $35.3 million, breaking the record for the highest price paid for a rough diamond. The diamond was bought by Hong Kong-based private jewelry retailer Chow Tai Food Jewelry Co. Ltd., reports say. At the time the stone was discovered at Petra Diamondsā€™ Cullinan Mine in South Africa, it was valued by analysts to be worth around $20 million, and the company expected a sale price of around $25 million riding on rising rough diamond prices and higher buyer interest.

The 100 gram-stone was estimated as among the world's top 20 high-quality rough diamonds.

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