Petra Diamonds Sells Five Blue Rough Diamonds For A Cheap Price, Right!

Petra Diamonds just announced that its Letlapa Tala Collection consisting of five Blue rough diamonds has been sold to a partnership between De Beers and Diacore for a total of $40.36 million. The total weight is 85.6 carats so the average price paid per carat is $471.5k per carat. 

The Letlapa Tala Collection
Image Credit: Petra Diamonds

This is not a record price but based on a loss of 50-65% of weight, the after polishing total weight should be between 30 carats and 42.8 carats. The new cost per carat will be between $ 943k to $1.347 million. This is a pretty high cost and if the 5 Blue rough diamonds do not yield Fancy Vivid Blue diamonds, this will be an expensive loss. 

Even if we assume an optimistic loss of weight of only 35-45%, this means that the final, after polishing weight would be between 47.08 carats and 55.64 carats. This translates into a final per carat cost of $725k to $857k per carat. Even in this scenario, they all better be a strong Fancy Intense Blue diamond with Flawless clarity or Fancy Vivid Blue diamonds based on current market prices.

The 5 Blue rough diamonds
Image Credit: Petra Diamonds

It will also be interesting to see what the partners will end up doing with the polished diamonds. Will they sell them each separately, or create a higher valued piece of jewelry with all 5 of them included. Only time will tell, and I hope that De Beers and Diacore will make it publicly known.

I also wonder if the same partnership acquired the 20.08 carat last year and if they will share with us the outcome.

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