- Who bought the Peace Diamond?
- Why is the proceed so important?
- Which other famous diamonds are comparable?
Who bought the already famous Peace Diamond?15 Jul 21
Who bought the Peace Diamond?
The already famous Peace Diamond was recently found in Sierra Leone and is the 14th largest rough diamond ever found. The highest bidder was the British jeweller Graff, that also bought the bigger Lesedi La Rona at the end of June. The Peace Diamond made Graff’s wallet about $6,5 million or €5,5 million lighter. Graff thinks the purchase is a good investment, but not for the obvious reasons. It was mostly because of the humanity that drove them.
The country of origin really needs the income from this diamond, especially for the local population. A good investment for Graff is usually only the purest diamonds with D or E colour. The Peace Diamond does not even have a clear colour and is also not well suited for editing.
Why is the proceed so important?
The proceed of the stone is an unbelievable godsend for Sierra Leone. About 70,2% of the population lives below the poverty line, causing the proceeds to make an incredible difference in many lives. Above all, it’s also a symbolic act that means a lot for a country that has been plagued with trades in conflict diamonds. Now there are already plans to spend €3 million on the infrastructure in the region of the site.
Clear water, electricity, schools, roads and other things will boost the live of the population. Another million goes to a rural development fund.
Which other famous diamonds are comparable?
You already knew that the carat is important for a good investment. With his 706 carats or 140 grams, the Peace Diamond is very rare. The symbolic value aside, he has to let some other gemstones pass him. The biggest rough diamond ever found, is the Lesedi La Rona, with 1,109 carats and a price tag of $53 million.
The Cullinan was the biggest transparent diamond ever. This turned out to be a good investment for the diamond factory Assher in Amsterdam, that 100 years ago, extracted 9 large and 96 small stones that are now part of the British crown jewels.