The world’s second-largest gem-quality rough diamond has finally found a buyer. Nearly two years after its spectacular recovery from Botswana’s famed Karowe Mine, the 2,488-carat Motswedi diamond has been sold by Lucara Diamond Corp. — although the identity of the buyer and the price paid remain a mystery.
Lucara disclosed the sale in its second-quarter financial results released August 7. The company did not reveal either the purchaser or the final price, saying only that Motswedi was included in its $41 million in total revenue for the quarter.
The lengthy wait is hardly surprising. Diamonds of Motswedi’s extraordinary size and rarity are so unusual that finding a buyer — and agreeing on a value — can take years. The potential price tag is enormous, while the pool of buyers capable of acquiring such a historic stone is exceptionally small.
A telling precedent is the 1,109-carat Lesedi La Rona, also recovered by Lucara at Karowe. Discovered in November 2015, the diamond was offered at auction by Sotheby’s in 2016, but bidding stalled at $61 million against a $70 million reserve. British luxury jeweler Graff Diamonds eventually purchased the stone in September 2017 for $53 million.
By November 2018, Graff had revealed what became of its remarkable acquisition: The Lesedi La Rona had been transformed into 67 polished diamonds, ranging from just under 1 carat to more than 100 carats.
Motswedi could follow a similar path — but for now, its future is anyone’s guess.
Recovered in August 2024, the massive stone was initially reported at 2,492 carats before cleaning reduced its official weight to 2,488.32 carats. The Gemological Institute of America subsequently confirmed it as the second-largest gem-quality rough diamond ever discovered, behind only the legendary 3,106-carat Cullinan, unearthed in South Africa in 1905.
Motswedi is also a remarkable specimen in its own right. The transparent, light-brown diamond is a gem-quality Type IIa crystal, with several large gem-quality areas and relatively few inclusions. It measures about four inches in width and weighs just over a pound.
Its name carries special significance. Selected through a national diamond-naming competition that attracted more than 39,000 entries from Botswana citizens, Motswedi is a Setswana word referring to underground water that emerges at the surface — essentially a spring or source of water. It is an evocative name for a treasure that emerged from deep within Botswana’s earth.
For now, Motswedi’s future remains shrouded in mystery — and its next chapter is anyone’s guess.
Credit: Photo courtesy of CNW Group/Lucara Diamond Corp.