Gem Diamonds sells the Letšeng Star for $16.5 million

The 553-carat, D, type IIa,Letšeng Star rough diamond was sold recently by Gem Diamonds for a value of $16.5 million, or $30,000 per carat, to an undisclosed buyer, reports say. The sale involves a commitment that Gem Diamonds’ Lesotho-based subsidiary, Letšeng Diamonds, will receive part of the downstream polished margin, which will be achieved upon selling a polished d\stone cut from the Letšeng Star. According to the company, the Letšeng Star ‘has the potential to yield an exceptional polished product’.

The Letšeng Star ranks as the 14th largest white diamond ever found.