Louis Vuitton to Polish the 1,758-Carat Sewelo Diamond

Lucara Diamond Corp. Sewelo diamond

Lucara Diamond Corp

Sewellô, which means "rare find" in Setswana, is the second diamond larger than 1,000 carats to be recovered from the Karowe Diamond Mine over the past four years and the biggest ever found in Botswana, Lucara announced Thursday.

"We are delighted to be partnering with Louis Vuitton, the famous luxury House, to transform the historic, 1,758 carat Sewelô, Botswana's largest diamond, into a collection of fine jewellery that will commemorate this extraordinary discovery and contribute direct benefits to our local communities of interest in Botswana", said Eira Thomas, Lucara CEO.

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"There are less than 10 people in the world who would know what to do with a stone like that or how to cut it and be able to put the money on the table to buy it", Pruwer told The New York Times.

Louis Vuitton say the stone's "full potential" will only be revealed after it has been polished. It was sold to Graff, a British jeweler, for $53 million. This particular piece was cut into multiple polished gems, with the two largest being the Great Star of Africa and the Lesser Star of Africa set in the Crown Jewels of Britain. These two gems were both much more valuable Type IIa stones.

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The purchase follows the 16 billion Dollars acquisition of Tiffany by LVMH, the French parent company of Louis Vuitton-hinting at plans to lead the jewelry industry.

The only larger diamond ever found was the 3,106-carat Cullinan Diamond (right), unearthed in 1905 in South Africa.

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Louis Vuitton, founded in Paris in 1854, has form in the jewellery market. It was found in a mine owned by Lucara, a Canadian diamond company.

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