James Sanders on the rare diamond discovered in India

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While we’re big proponents of lab grown diamonds at London Diamonds, given the fact that they offer our customers better value for money, we still love natural diamonds.

As an investor in alternative asset classes, I know how much certain types of investors like to follow developments within the sector. And as such, it’s always fascinating to read about the latest news of rare diamonds unearthed around the world.

Double diamond discovered in India

Earlier this year, for example, a diamond company based in India announced it has unearthed a super rare natural diamond.

The gem in question is actually a large diamond that has a hollow centre, within which lies a separate, smaller diamond.

This exceptionally rare find has been named the ‘Beating Heart’ and it’s only the second time that anything like this has been found.

Unusual formation of diamond with a diamond inside

The Beating Heart’s internal cavity is roomy – enough that the smaller diamond can actually rattle around inside. A representative from the company concerned (Vallabh Dhanjibhai Global) says that they plan to leave it uncut and unpolished in order to show off the beauty of the natural gemmology.

Vallabh Dhanjibhai Global (VD Global) is on the De Beers Global Sightholder Sale (DBGSS) list of official buyers of rough diamonds. Located in Gujarat, VD Global receives containers of unprocessed diamonds.

Owner Vallabh Vaghasia explained to The Indian Express that the special diamond just came through to them in a normal consignment. He says: “We looked at it for far longer than normal so that we could understand the natural making of the diamond. Its composition is so unusual we chose to name it the ‘Beating Heart;.”

Similar diamond discovered in Russia in 2019

The only other natural diamond that has been found with a hollow cavity containing a smaller diamond was found in 2019 by Russian diamond handlers. Named the ‘Matryoshka Diamond’ after the traditional Russian dolls, the diamond has the same natural structure as the Beating Heart.

Vaghasia sent the new find to De Beers for specialist research purposes, and the experts there have theorised as to its formation.

The experts believe that the small inner stone formed first under the specialist conditions that are necessary for diamond formation. Over time, the conditions under the Earth must have changed in some way.

This change led to the formation of the outer shell, which would originally have been fragile and poor quality. Another shift in conditions then allowed the second layer to coalesce into a high quality diamond.

As the diamond made its very slow journey from underneath the Earth to the surface, the fragile layer will have simply eroded away. This has left the unique stone, with one encased in another. The Beating Heart totals. 0.329 carats in weight.

3 of the rarest diamonds ever found

More than a dozen of the most beautiful and famous diamonds in the world’s history were discovered in India, but some have also been mined in other countries. Here are some of the world’s most expensive and rare diamonds:

  • The Hope Diamond (45.52 carats worth $250,000,000)

This huge diamond was mined from the Kollur Mine in Guntur, India in the mid 17th century. Early records show that it was bought by French diamond merchant Jean Baptiste Tavernier in 1666 when it was called the Tavernier Blue.

It was cut and named the French Blue, before being sold to Louis XIV in 1668. When the Frnech Revolution shook the country and finished off King Louis, the diamond was stolen and recut again. The biggest section eventually reappeared in 1839 in the diamond catalogue owned by eth Hope Banking family, hence its name today.

By 1958, the Hope Diamond arrived at the Smithsonian in the US, where it is now on permanent display as part of the National Gem and Mineral Collection.

  • Blue Moon of Josephine Diamond (12.03 carats worth $48.4 million)

This stunning blue diamond is considered officially flawless. It was found in January 2014 in South Africa and reached its record breaking price at Sotheby’s in November 2015. It’s he biggest cushion-shaped blue diamond ever to have been classified. It was bought by Joseph Lau Luen-Hung, who is not only a billionaire but also a convicted felon, who named it after his daughter Josephine.

  • The Incomparable Diamond (407.5 carats worth an estimated $26.5 million)

Technically, this diamond has no set price. It’s one of the biggest diamonds ever found at 890 carats in its original state. Bizarrely it was discovered by a young girl in a rubbish pile at one of the mine dumps near the MIBA Diamond Mine in the Democratic Republic of the Congo in 1984.

Before it was cut, the stone was the biggest brown diamond every discovered, and the fourth biggest of any colour. The three larger ones are the Cullinan (3,106.75 carats), Excelsior Diamond (995 carats) and the Star of Sierra Leone at 968.9 carats.

The Incomparable Diamond was cut down to 407.5 carats to eliminate internal flaws. The finished diamonds were put on display in November 1984 with the satellite stones varying in colour. The biggest is known as the Incomparable and it’s this part that was graded as officially flawless in 1988.

The stone was offered for sale by jeweller Leland McKee on eBay with a set price of $26.5 million. It didn’t sell at that price, but remains the most expensive diamond ever to be listed on the site.

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