Headlines

910-Carat Diamond Sells for $40M

Published

6 years ago

March 13, 2018

INSTORE Staff

It’s one of the largest gem-quality diamonds ever recovered.

Gem Diamonds Ltd. announced that a 910-carat diamond known as the “Lesotho Legend” has sold for $40 million.

It achieved the price on tender in Antwerp on March 12, according to a press release. The company describes it as “the fifth largest gem quality diamond ever recovered.”

The identity of the buyer was not disclosed.

The D coloor Type IIa diamond was recovered from the Letšeng mine in January.

“We are delighted with the outcome of the sale of this iconic diamond, which demonstrates the exceptional quality of The Lesotho Legend itself, as well as reaffirming the unique quality of the Letšeng diamond production,“ said Clifford Elphick, CEO of Gem Diamonds.

Gem Diamonds owns 70 percent of the Letšeng mine in Lesotho and 100 percent of the Ghaghoo mine in Botswana.

INSTORE lesotholegend

The “Lesotho Legend” diamond sold for $40 million.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”