Lucara weighs options over 1,758-carat wonder

Two years ago the Canadian outfit sold its world-breaking tennis ball-sized Lesedi La Rona diamond to British Jeweller Graff Diamonds for $53 million.  The 1,109 carat uncut stone dug up at Karowe in Boteti sub district, had been expected to fetch far higher, given $70 million reserve price.

Lucara insiders at the time told BusinessWeek that industry villains had conspired to undercut Lesedi La Rona’s price to their benefit, staging an auction-floor ambush. This week, Lucara managing director, Naseem Lahri stressed that the importance of understanding the market would be key to selling the latest giant stone.