Imagine a diamond the size of a tennis ball—now imagine it sold for $53 million!

The world’s largest uncut diamond, named **Lesedi La Rona** (meaning "Our Light" in the Tswana language), was discovered in November 2015 in Botswana’s Karowe mine by Canadian company Lucara Diamond Corp. Weighing an astonishing **1,109 carats**, it is the second-largest gem-quality diamond ever found, surpassed only by the 3,106-carat Cullinan Diamond discovered in 1905.

Initially, Lucara attempted to sell the diamond through a Sotheby’s auction in June 2016, setting a reserve price of $70 million. However, the highest bid reached only $61 million, falling short of the reserve, and the diamond remained unsold. This led to a reevaluation of the diamond’s marketability and potential value.

In September 2017, after extensive negotiations, Lucara sold Lesedi La Rona to British jeweler Graff Diamonds for **$53 million**, approximately $47,777 per carat. This private sale marked a significant moment in the diamond industry, highlighting the challenges of selling exceptionally large diamonds and the specialized market for such rare gems.

Following the purchase, Graff Diamonds embarked on the meticulous process of cutting and polishing the diamond. By April 2019, the rough stone was transformed into a stunning **302.37-carat emerald-cut diamond**, named the Graff Lesedi La Rona, along with 66 smaller stones. Each piece is inscribed with “Graff, Lesedi La Rona” and a specific GIA number, emphasizing its unique origin and craftsmanship.

This sale not only set a record for the largest uncut diamond ever sold but also underscored the complexities and considerations involved in handling and valuing such extraordinary natural treasures.

Understanding the journey of Lesedi La Rona offers insight into the diamond industry’s dynamics, from discovery and valuation to sale and transformation, reflecting the intricate processes that bring these magnificent stones to the market.