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De Grisogono Buys Rights to 813ct. Diamond

Sep 11, 2016 9:33 AM   By Rapaport News
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RAPAPORT...
De Grisogono purchased the rights to the world’s most expensive rough diamond, the Constellation, it announced at the launch of the 28th Biennale des Antiquaires in Paris.

The Switzerland-based jeweler entered into a partnership with Dubai-based Nemesis International which bought the 813-carat diamond from Lucara Diamond Corporation for $63 million in May following a competitive bidding process. It was recovered at the Karowe mine in Botswana in November.

Cutting and polishing of the Constellation – scheduled to finish by mid-2017 – may result in one of the world’s largest flawless diamonds, De Grisogono said at the event at the Grand Palais September 9.

“By purchasing the rights to the Constellation, De Grisogono has shown its commitment to bringing the most unique stones from around the world to our clients in exceptional and exclusive pieces,” said John Leitao, the jeweler’s chief executive officer. “Despite a challenging market environment, people will continue to cherish and value those objects which are truly unique and special, such as this extraordinary piece of history." 

While the Constellation was outshone by the 1,109-carat Lesedi La Rona, whose discovery at Karowe was announced in the same week, that larger diamond has not yet sold and remains in Lucara’s inventory. It was tipped to fetch more than $70 million, but bids at a Sotheby’s auction in June failed to meet the reserve price.

De Grisogono also bought the rights to market a 404-carat rough diamond from Nemesis International in May. The stone was recovered by Lucapa Diamond Company at its Lulo mine
Tags: Biennale des Antiquaires, Constellation, De Grisogono, Karowe, Lesedi La Rona, Lucara Diamond Corporation, paris, Rapaport News
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