PodcastsJan 12, 2026
The latest poscasttest
SourcingMar 17, 2016
Lucara in ‘No Rush’ with its 1,111-Carat Find
The huge rough diamond, which was discovered last month at a mine in Botswana, still is in the process of being evaluated.
New York--It took the Asschers more than six months of study before they figured out where exactly to strike the 3,106-carat Cullinan diamond.
So it makes sense that even in this era of instant gratification and nonstop news updates, Lucara is taking its time with the 1,111-carat diamond it recovered from the Karowe Mine in Botswana a little more than two weeks ago.
On Wednesday, Lamb told National Jeweler that the $60 million figure is an estimate from analysts that is based on the 342-carat diamond Lucara sold in July for $20.5 million, or about $60,000 a carat.
If the 1,111-carat diamond fetched the same per-carat price it would go for $66.7 million, but Lamb said he doesn’t think the two stones are comparable--the 1,111-carat diamond has more historical significance and, most likely, will yield larger single stones once cleaved.
That, however, remains to be seen.
Lamb said his company still is in the process of evaluating the diamond, which is being kept in an undisclosed location.
Because of its size, the stone has had to go through the cleaning process several times, and they are still working to determine how exactly they are going to analyze it--by sight, by machine or a combination of both.
Until then, Lamb is reticent to give specific estimates on how much they will ask for the diamond or to whom it could be sold. He said many steps still have to be taken before the company reaches the stage where they know exactly what they will do with the stone.
“Everybody thinks we are just going to rush out and put it on tender,” Lamb said. “(But) internally it’s really only been two weeks and we are in no rush to sell the stone.”
Editors' Picks
Sponsored by
More on Sourcing
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
