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| Diamond-Lesedi La Rona sold for $53m to London Jeweller | Diamond-Lesedi La Rona sold for $53m to London Jeweller |
| (35 minutes later) | |
| The world's second-largest gem-quality diamond has been sold to a London jeweller for $53m (£39.5m). | The world's second-largest gem-quality diamond has been sold to a London jeweller for $53m (£39.5m). |
| Laurence Graff, chairman of Graff Diamonds, bought the diamond privately after it failed to meet its reserve price at an auction last year. | Laurence Graff, chairman of Graff Diamonds, bought the diamond privately after it failed to meet its reserve price at an auction last year. |
| The 1,111-carat stone was recovered by Canadian firm Lucara Diamond Corp in Botswana two years ago. | The 1,111-carat stone was recovered by Canadian firm Lucara Diamond Corp in Botswana two years ago. |
| Lucara said the price was an improvement on the highest bid received at Sotheby's in June 2016. | Lucara said the price was an improvement on the highest bid received at Sotheby's in June 2016. |
| The diamond is named "Lesedi La Rona", which means "our light" in Botswana's Tswana language. | The diamond is named "Lesedi La Rona", which means "our light" in Botswana's Tswana language. |
| The stone was first formed between 2.5 to three billion years ago and is roughly the size of a tennis ball. | The stone was first formed between 2.5 to three billion years ago and is roughly the size of a tennis ball. |
| As well as its size, the diamond has been certified as being of "exceptional quality and transparency" by the Gemological Institute of America. | As well as its size, the diamond has been certified as being of "exceptional quality and transparency" by the Gemological Institute of America. |
| Mr Graff said "The stone will tell us its story, it will dictate how it wants to be cut." | Mr Graff said "The stone will tell us its story, it will dictate how it wants to be cut." |
| The company says it will be scanned using state-of-the-art 3D equipment that searches for inclusions - small imperfections in the heart of the stone - to decide how the diamond will be polished. | |
| Then an expert team will examine the diamond using microscopes to pick up and navigate any further pinpoint inclusions. | Then an expert team will examine the diamond using microscopes to pick up and navigate any further pinpoint inclusions. |
| They will then work out how to cut the diamond and into how many individual stones. | They will then work out how to cut the diamond and into how many individual stones. |
| Graff acquired another 373-carat diamond that was originally part of "Lesedi La Rona" earlier this year. | Graff acquired another 373-carat diamond that was originally part of "Lesedi La Rona" earlier this year. |
| The company says it will cut the smaller diamond first and with the knowledge gained from that, they will decide how to work on the larger gem. | |
| The "Lesedi La Rona" is the largest gem-quality diamond discovered in more than a century, and the second-largest ever. The largest was the 3,106-carat Cullinan Diamond, discovered in South Africa in 1905. | The "Lesedi La Rona" is the largest gem-quality diamond discovered in more than a century, and the second-largest ever. The largest was the 3,106-carat Cullinan Diamond, discovered in South Africa in 1905. |
| Graff described the stone as "the world's most valuable rough diamond". | Graff described the stone as "the world's most valuable rough diamond". |