Thursday, December 3, 2009

Cullinan Diamond Fetches $6 Million

A 168 carat white Cullinan diamond has been sold for $6.28 million, diamond supplier Petra Diamonds said on Friday.



In this photo supplied by Petra Diamonds CEO Johan Dippenaar, holds the 507.55 carat white diamond recovered at the Cullinan Diamond Mine.
In this photo supplied by Petra Diamonds CEO Johan Dippenaar, holds the 507.55 carat white diamond recovered at the Cullinan Diamond Mine.

The diamond, regarded as being of exceptional colour and quality, fetched about US37,380 a carat when it was sold to an undisclosed buyer.

It was recovered in the same production series as three other special diamonds: the 507.55 carat white diamond, which has not been offered for sale yet, as the company considers the best route to market in order to maximise value; and two diamonds of 58.50 and 53.30 carats, which were sold in November for a total of US2.8 million.

The Cullinan mine has produced more than 300 diamonds of over 100 carats and a quarter of all the world's diamonds over 400 carats.

Johan Dippenaar, chief executive officer of Petra said in a statement: "I am delighted to announce the sale of this special white diamond from Cullinan.

"The interest in the stone was very high, as was the case with the two smaller (53 and 58 carat) rough diamonds sold in mid November, and the three diamonds have together achieved a total sales value of just over US9 million."

SOURCE

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