A diamond the size of a tennis ball is set to rake in some serious cash.
The diamond, which was unearthed by the Lucara Diamond Corporation, is expected to be worth a total of $70 million and net about $35 million for the company, Bloomberg reported.
The gem, dubbed the Lesedi La Rona, is the largest diamond mined in over a century and is a a 1,109-carat gem-quality stone. It’ll be auctioned off by Sotheby’s on June 29.
It’s expected that nearly 50% of the diamond’s proceeds from the auction will go to Lucara. “There’s blue-sky potential,” CEO William Lamb told Bloomberg in an interview. “You only need two people that desperately want it, and then you’ll get a good price.”
The company’s stock has soared thanks to the diamond’s discovery and expected value. Per the publication:
The diamond will be auctioned off in its rough form and could be cut to 400 carats. “Nobody knows what a 400-carat diamond is worth,” Lamb said.