Huge Light of Africa Diamonds Sells for Over $20 Million 

Christie’s’ New York Magnificent Jewels sale on June saw the flawless 103.49-carat diamond known as “The Light of Africa” sell for $20,084,000, shattering its high estimate of $18 million, according to IDEX Online.

The D-color, Flawless, emerald-cut, Type IIa diamond, was cut and polished from a 299.3-carat rough unearthed at the Cullinan Mine in South Africa, owned by Petra Diamonds.

Rahul Kadakia, international head of jewelry at Christie’s, said: “The 103.49 carat Light of Africa D Flawless diamond achieved an incredible $195,000 per carat demonstrating the strength of the diamond market at the highest levels.”

All in all, the Magnificent Jewels auction raked in $48,872,000 with 95% sold by lot and 98% sold by value.