Industry News by Nemesis

Grisogono Announces Acquisition of World's Most Expensive Rough Diamond

September 9, 2016


To mark the opening of the 28th Biennale des Antiquaires, de GRISOGONO announced the acquisition of The Constellation, the world's most expensive rough diamond, at a press conference held in the Grand Palais today, writes PR Newswire.


"The purchase represents a ground-breaking moment for the company in its journey to become one of the world's leading high jewellery and watch brands." 


The Constellation, a Type IIa stone, one of the rarest types of diamond, with little or no impurities and no color, weighs 813-carats and was discovered by Canadian company, Lucara Diamond, at its Karowe mine in Botswana in November 2015.


The gem was purchased for $63 million - $77,649 per carat - on May 9 earlier this year, and Lucara will also retain 10% interest in the net profit received from resultant polished diamonds. It is expected that the cutting process, due to be completed by the middle of 2017, may unveil one of the world's largest certified flawless diamond, reads the press release. 


Founder and Executive Board member of de GRISOGONO, Fawaz Gruosi said: "I am thrilled to have the chance to work with such an incredible and important diamond as The Constellation. As a jeweller I am conscious of the extraordinary responsibility I have to the stone and to the team who have worked so hard to secure it.  To be able to bring my creative skills to the cutting and setting process of such a stone is both an honour and a privilege and I cannot wait to realise my vision for it."


Speaking about what the purchase means for the business, John Leitao, Chief Executive Officer of de GRISOGONO, said: "By purchasing 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.  We firmly believe that, 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.


Source: The Diamond Loupe

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