The World Federation of Diamond Bourses (WFDB) has praised efforts to market the 709-carat 'Peace Diamond' – the world’s 14th largest diamond – in order to secure the highest possible price for it at auction. The money raised from the sale of the giant diamond will be used to improve the lives of poor artisanal diggers and the people of Sierra Leone where it was discovered.
Since the diamond was found in a village that does not have clean water, electricity, medical facilities, a school, roads or bridges, the aim is for the proceeds after taxes to be used to provide vital, life-saving infrastructure and to improve the lives of tens of thousands of the poorest people in the world. The Rapaport Group is providing free marketing of the diamond worldwide to boost awareness of the stone and to secure the highest price for it.
"I believe this is a perfect example of the good that diamonds can do for some of the poorest people in Africa," said WFDB President Ernie Blom. "We, as an industry, don't tell the general public enough about the benefits that diamonds do for diggers and miners and their families across the African continent. This diamond is being sold in the right way, with the aim of providing the people of Sierra Leone with direct help in their everyday lives. We are not talking about luxuries, but basic amenities that are sorely missing. Diamonds can, and do, make the world a better place, and I hope this succeeds because it will clearly provide assistance to some of the neediest people in Africa," Blom added.
The Peace Diamond will be on display in Antwerp until November 15, before moving on to New York for viewing until the auction takes place on December 4.