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Largest diamond discovered in over 100 years may be more expensive than a Manhattan apartment

Will Gleason
Written by
Will Gleason

The biggest diamond unearthed in over 100 years was just discovered by the Lucara Diamond Corporation in Botswana. No, it wasn’t in a turkey. The mining company found the impressive rock at the company’s Karowe Mine. And it appears the once-in-a-lifetime gem could cost more to own than a Manhattan apartment.

Measuring approximately 2.6 inches by 2.2 inches by 1.6 inches (or about the size of a tennis ball) the stone’s worth is pretty much impossible to estimate. But last week, Hong Kong businessman Joseph Lau spent a record-setting $77m on two smaller diamonds. This may have been after he was unable to afford an apartment in Manhattan.

Weighing 1,111 carats, it’s the second-largest “gem quality” diamond ever discovered. The first largest was the famed Cullinan diamond discovered in South Africa in 1905, which was eventually cut into Britain’s Crown Jewels.

The company isn’t exactly desperate to sell the rock, but news of its discovery has already added about $150 million in value to the company. Impressively, that’s enough for the corporation to buy one (but not two) apartments in Manhattan.

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