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A diamond dealer in the Northwest Territories sets a new business record – Mountain Province Diamonds sold a diamond for almost three times the highest price ever obtained for a single jewel.
The 95-carat diamond was unearthed at the Gahcho Kue mine in May. It was sold on June 22 in an online diamond auction.
Mountain Province Diamonds owns 49% of the Gahcho Kue Mine, located 280 kilometers northeast of Yellowknife.
The company has been selling diamonds for over a year. This diamond is one of the most outstanding discoveries to date, said Reid Mackie, vice president of marketing at Mountain Province Diamonds.
The name of the buyer was not unveiled, but Mackie said it had been sold to a leading gem-quality diamond specialist based in Belgium.
Reid Mackie, vice president of marketing at Mountain Province Diamonds, said the diamond is of exceptional quality, making it more valuable. (Submitted by Reid Mackie)
The diamond was sold for almost triple the diamond price of the company's highest previous value.
But the selling price is not published because it would "disadvantage buyers," Mackie said.
Mountain Province Diamonds sold diamonds larger than this one before, but they sold cheaper because they were of inferior quality. He says that the 95-carat diamond is about the size of a cherry or a large grape and that there are no visible cracks or inclusions, making it a very high quality diamond.
"Touching 95 carats from the start of production bodes well for years to come," says Mackie.
"When you bring a stone like this, it attracts a lot of attention and it starts to develop a rough mark on the international rough diamond market."
The 95-carat diamond is high quality, without visible cracks or inclusions. (Submitted by Reid Mackie)
Paul Zimnisky, an independent diamond badyst in New York, agrees that the sale is a good sign for the mine.
"I think this is the first indication that there are better and better diamonds in the soil," said Zimnisky, adding that the more the mine will dig deeper into the deposit, the more Diamonds of this size and quality will likely be found.
Zimnisky estimates the 95-carat diamond sold for between $ 2.5 and $ 3 million. He based this estimate on the selling prices of similar diamonds.
He said diamond prices were down last year, but he sees the market rebounding. This year, he saw a four to five percent increase in diamond prices.
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