Cullinan Heritage Diamond sells for $35.3M
Post Date: 01 Mar 2010 Viewed: 573
Miner Petra Diamonds announced over the weekend that the 507-carat Cullinan Heritage diamond sold for $35.3 million – the highest sale price on record ever achieved for a rough diamond.
The 507-carat diamond was purchased by Hong Kong-based Chow Tai Fook Jewelry Company, which outbid other companies in a tender held in South Africa.
According to a RNS press release, the price fetched for the Cullinan Heritage diamond reflects its rarity of the stone, which combines its remarkable size with exceptional color and clarity.
At 507.5 carats, the Cullinan Heritage is the nineteenth largest gem diamond ever discovered. The diamond was recovered in September 2009 from Petra’s Cullinan mine in South Africa which has produced the majority of the world’s most famous and important diamonds.
Johan Dippenaar, Petra’s CEO said: “It is fitting that The Cullinan Heritage should achieve a sale price of US$35.3 million, the highest sale price on record ever achieved for a rough diamond, as it has the potential to produce one of the world’s most important polished gems. The sale proceeds further bolster Petra’s treasury and will be invested in the growth of our core assets.”