06-12-2017
The 709-carat ‘Peace Diamond’ was sold at auction for US$6.5 million to the House of Graff on 4 December 2017. The price was lower than the bid of US$7.08 million that the Sierra Leone government rejected in May in Freetown due to the unsatisfactory price.
The rough was discovered by a group of artisans in Koryardu, Sierra Leone in March this year. The village has no water, electricity, roads, medical or schools facilities. The sale of the diamond will provide vital lifesaving infrastructure to the area where the diamond was found, said the Rapaport Group who handled the sale without charges.
According to Rapaport, 59 percent of the proceeds will go to the government of Sierra Leone as taxes, 15 percent will go to the Diamond Area Community Development Fund for vital infrastructure, and 26 percent will go to the artisanal diggers who found the diamond.
Graff chairman Laurence Graff said: “It is an honour to have acquired this magnificent rough diamond – and that is sale will directly benefit a country in desperate need. It is always special to be able to give back to the places that provide us with these beautiful stones.” (Photo courtesy: Rapaport)
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