World’s Most Expensive Uncut Diamond Bought by Hong Kong Jewelry Company

A 507-carat diamond was sold to a Hong Kong jewelry company suspected to have mainland Chinese connections this week. The price breaks the world record for the most expensive diamond ever sold on market for an uncut, rough diamond.

The so-called “Cullinan Heritage” stone was discovered in 2009 in perhaps the most famous diamond mine in the world, the Cullinan mine located in South Africa. The mine has been in operation for hundreds of years, producing two of the most famous diamonds in the Crown Jewels of London.

The mine was purchased by Petra Diamonds from De Beers for a cool $1 billion dollars in 2007. Considering that one 507-carat diamond fetched $35 million, it seems they are recouping their investment rather quickly. Pre-sale estimates put the value of the white diamond at $25 million but as usual a bidding war for rarities drove up the price.

Although this is the most expensive diamond on record, it is by far not the largest. The same Cullinan mine produced the record largest diamond in history, the 3,106-carat stone that was used to cut the famous Great Star of Africa. That famous diamond was presented to King Edward VII of England in 1906. It resides safely in the Tower of London as part of the Crown Jewels.

The Crown Jewels also contains a slightly larger 530-carat Lesser Star of Africa from that mine.
However the Cullinan Heritage diamond is the 19th largest ever recorded on market which makes this a rather special girl’s best friend. Now there is a gift that could win favors from a girlfriend.