The First Art Newspaper on the Net   Established in 1996 United States Saturday, March 17, 2018

Sierra Leone's huge 'peace diamond' fetches $6.5 mn
The Peace Diamond is on display at the Rapaport Group on December 4, 2017 in midtown New York. The government of Sierra Leone has sold a 709 carat rough diamond for $6.5 million. Named the Peace Diamond, $3.8 million of the proceeds will directly benefit 250,000 inhabitants of a region with no school, hospital, clean water, roads or electricity. TIMOTHY A. CLARY / AFP.

NEW YORK (AFP).- A huge so-called "peace diamond" sold by the government of Sierra Leone to discourage crime-tainted "blood diamonds" fetched $6.5 million on Monday.

The 709-carat stone, which was unearthed in March, is the largest discovered in Sierra Leone in almost a half-century and is between the 10th and 15th largest ever found worldwide, experts say.

Found by a company led by evangelical Pastor Momoh, the diamond was given to the government in the hopes it would handle the sale in a way that leaves more profits and development potential in Sierra Leone.

British jewelers Laurence Graff purchased the stone, according to Martin Rapaport, whose group hosted the auction. The government was expecting about $7 million.

"Perhaps we're dealing with the price of transparency," Rapaport said.

Illegal mining and sales of so-called blood diamonds have been a major source of strife in many African countries including Sierra Leone. That was the goal of the auction approach of President Ernest Bai Koroma.

Expectations at home were high, yet the price may have seemed a disappointment.

Gibril Sesay, a market seller, said he wanted the government to provide "water, electricity and good roads for the people" with the proceeds of the gem following the sale.

But Beatrice Cole, a civil servant, told AFP "the money paid for the diamond was far below what we expected" after watching the auction live on TV in Freetown.

© Agence France-Presse

Today's News

December 6, 2017

Lubaina Himid becomes oldest winner of United Kingdom's Turner Prize

A petition decries 'suggestive' painting at New York's Met

Thornton Triceratops gets new identity

Murillo masterpiece returns to the Walker Art Gallery following revealing conservation work

Sotheby's New York to offer the earliest known illuminated Hebrew Bible from Spain

Save Venice Inc. restores Titian's Madonna di Ca' Pesaro

Harvard Art Museums acquire Kara Walker drawing

Jean d'Ormesson, France's 'prince of letters', dies aged 92

Sierra Leone's huge 'peace diamond' fetches $6.5 mn

Trio to replace disgraced Levine at Met for much-awaited 'Tosca'

Ferdinand Hodler's "Thunersee" soars to CHF 4.3 million as winter landscapes triumph at Sotheby's Zurich

Toledo Museum of Art adds three Native American works of art to its collections

The Redwood Library & Athenaeum opens Paris Salon exhibition

Christiane Paul named Director + Chief Curator of Galleries at Parsons School of Design

Mona Lisa: The world-renowned portrait that still affects world's culture

Site-specific sculpture unveiled in Sydney CBD's Wynyard Station suspended above a bank of escalators

Turner Auctions + Appraisals to offer the Anita Hellman Collection of Costume & Fine Jewelry

Jonathan Wong appointed to head Sotheby's S/2 Gallery in Hong Kong

The couture fashion jewellery of Shaun Leane achieves $2.6 million at Sotheby's

Ansel Adams Museum set to highlight photographs auction at Doyle

The Warhol appoints Clark Crowley-Bunyard Advancement Director

Galerie Max Hetzler opens exhibition of recent works by Toby Ziegler

Sotheby's Department of Scientific Research celebrates first anniversary

Carnegie International commits to fair artist pay

Supercars and timeless classics triumph at multi-million pound Bond Street sale

Most Popular Last Seven Days

1.- The Morgan explores the Medieval world's fascinating approach to the passage of time

2.- Experts discover hidden ancient Maya structures in Guatemala

3.- Egyptian archaeologists unveil tomb of Old Kingdom priestess Hetpet

4.- The Speed Art Museum and Italian Ministry reach loan agreement on ancient calyx-krater

5.- Major exhibition features artistic masterpieces from the glorious Church of the Gesù

6.- From Beowulf to Chaucer, the British Library makes 1,000 years of rich literary history freely available online

7.- Truck damages Peru's ancient Nazca lines

8.- Trish Duebber is new Coordinator of Youth Programs at Boca Raton Museum Art School

9.- Exhibition examines the way art, like language, was used to articulate a rhetoric of exclusion

10.- The Dallas Museum of Art announces gift of three major European works

Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .


Ignacio Villarreal
Editor & Publisher:Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
Founder's Site. The most varied versions
of this beautiful prayer.
to a Mexican poet.

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful