Largest Diamonds Ever Found and Current Ownership
The largest diamond ever discovered is the Cullinan, a 3,106.75 carat rough gem found in South Africa in 1905. Today, the polished stones cut from the Cullinan are part of the British Crown Jewels and other royal regalia, with the largest polished piece, the Great Star of Africa, set in the Sovereign's Sceptre. Ownership remains with the British Royal Collection, and the stone is not for sale, with no public market valuation available.
The second largest diamond is the Lesedi La Rona, a 1,109 carat rough stone recovered in Botswana in 2015. In 2017, the diamond was acquired by Graff Diamonds, which cut and polished it into multiple stones, the largest of which is a 302.37 carat emerald cut. The transaction price was not publicly disclosed, but industry sources estimated the rough stone was worth over $70 million before cutting.
Major Finds from Africa and Their Market Impact
Several of the largest diamonds originate from Botswana and South Africa, where major mining companies such as Debswana and Petra Diamonds operate. The 1,758 carat Sewelô, found in Botswana in 2019, was purchased by Louis Vuitton's parent company LVMH in 2021, marking a shift in how large rough stones are acquired by luxury brands rather than traditional diamond dealers. The stone was cut into multiple polished gems, reinforcing the strategy of using record-size finds to create unique high jewelry pieces.
The 1,155 carat Constellation, discovered in Botswana in 2015, was sold in 2017 for a record $63 million at a Christie's auction, setting a per carat price for a rough diamond. The stone was purchased by an anonymous buyer and later cut into a 813 carat oval gem known as the Constellation Diamond. These sales demonstrate that top 10 largest diamonds increasingly enter private or auction channels, with prices driven by rarity, size, and quality.
Rankings, Cutting Process, and Where They Are Now
The third largest diamond is the Excelsior, a 995.2 carat rough found in South Africa in 1893. The stone was cut into multiple smaller gems, with the largest piece weighing 69.68 carats. The fourth largest is the Star of Sierra Leone, a 968.9 carat rough discovered in 1972 and cut into 17 polished stones, the largest of which is 53.96 carats. Both stones are held in private collections, and their current owners have not disclosed their locations publicly.
The Incomparable, a 890 carat rough found in the Democratic Republic of the Congo in the 1980s, was cut into a 407.48 carat internally flawless diamond, the largest ever graded by the Gemological Institute of America. The stone was offered at auction in 2013 but did not sell, and its current ownership and location remain private. The fifth largest diamond is the Millennium Star, a 777 carat rough from the Democratic Republic of the Congo, cut into a 203.04 carat pear shaped gem now owned by De Beers and displayed at the Millennium Dome in London.