'Peace Diamond' Sold For $6.5M In New York to Laurence Graff

(IDEX Online) – The so-called 'Peace Diamond', a 709-carat diamond discovered in Sierra Leone by a clergyman has been sold at auction in New York for $6.5 million to Graff Diamonds chief, Laurence Graff.

Of the proceeds, $3.8 million will be directed to funding infrastructure projects to benefit the villagers of Koryardu, where the diamond was found, including the creation of a fresh water supply, power, roads, medical care and construction and maintenance of schools.

Ironically, the government of Sierra Leone turned down an offer of $7.8 million for the stone at an earlier auction, saying the offer was too low.

The diamond is reportedly the 14th largest in the world. It was handed over to the Sierra Leone government in March after it was found by Christian pastor Emmanuel Momoh.

(Picture: BBC)