The 709-carat Peace Diamond from Sierra Leone was brought by Graff Diamonds for $6.5 million on Monday (December 4) at an auction in New York.
Over half of the proceeds from the sale are set improve conditions in the village of Koryardu with a community development fund; to fund clean water, electricity, roads and health projects.
The 14th largest recorded diamond was found in March by Emmanuel Momoh, a Christian pastor, who handed the stone to the Sierra Leone government.
Graff chairman Laurence Graff commented “we usually doesn’t buy anything that’s not a D or E color. The colour of this diamond is very uncertain. Laurence Graff paid more money because he believes this diamond is a special diamond because it’s going to help the poorest people in the world.
He added that “when you get someone like Graff interested in the social benefits, in the social responsibility, you’re opening a new world of diamond demand — demand for diamonds that make the world a better place.”
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