Diacore, led by its Executive Chairman Nir Livnat, has undertaken an auction of a lifetime in which a flawless 88.22-carat oval diamond found its new home. The Diamond, that was sold for US$13.8 million, is one of only three pieces that have more than 50 carats and which have ever appeared in an auction. It is also the largest piece of diamond that was auctioned during the past five years.
The diamond attracted three bidders and outdid its estimated price of between US$11.2 – 12.7 million. It fetched such a high prize that each carat cost approximetley US$156,150. What makes this diamond spectacular is the fact that it was cut from a 242 carat rough stone, which is a rare occurrence. The oval shape was the most ideal for preserving most of the weight.