Cullinan Diamond Mine Scores Again

I would be smiling just as much as Johan Dippenaar, the Petra Diamonds Group chairman, if I had just found this 507 carat beauty. It comes from the Cullinan mine, which gave us the world's largest white diamond, the 3100 carat Cullinan.

Update

What makes the find even more mind boggling is that three other fine diamond crystals of 168 carats, 53 carats, and 58 carats were found alongside the large stone. All four diamonds appear to be of fine clarity and color.

That's quite a handful. And that handful will probably fetch a tidy sum as well.

Preliminary inspections suggest that the 507 carat stone is a Type II diamond and will exhibit excellent color and clarity.

Another comment that makes one pause, the Cullinan is only the 3rd richest diamond producing mine in South Africa.

Update on Petra / Cullinane Diamond

Petra Diamonds sold the 507-carat diamond for over $35 million. That price broke for the highest price ever paid for a rough diamond

Before the sale, experts had expected a price of about $25 million.

John Dippenaar, chief executive for Petra Diamonds said, "It is fitting that the Cullinan Heritage should achieve a sale price of $35.3 million, the highest sale price on record ever achieved for a rough diamond, as it has the potential to produce one of the world's most important polished gems."

The sale was purchased by Chow Tai Fook Jewelry Co Ltd in Hong Kong.