UK, London – Apparently according to Petra CEO Johan Dippenaar, Chow Tai Food Jewelry Co. Ltd who purchased recently discovered 507-carat diamond have got a bargain.

Rich Find

$35.3 Million will buy you a 507-carat diamond, even though it was not the largest ever found it is the highest ever paid for a diamond. The diamond was sold in London, UK, on Friday and has been described as being of “incredible rarity” by Petra CEO Johan Dippenaar.

The huge gem was found in the famous Cullinan Mine in Africa, also the former home of the British Royal Scepter’s stone ‘The First Star of Africa’ that weighed in at 530.2-carat, the largest diamond ever found.

19th on the Big List

Maybe it is all the hype that surrounded the find that saw only the 19th largest gem diamond ever found sold for $35.3 Million.

The discovery was unearthed in September 2009, and has since been kept under close guard, as it moved across the world to be sold.

The Petra CEO has also stated that the diamond has the potential to become one of the most important cut diamonds ever produced. But who will be charged with the cutting and what shape will the diamond ultimately be?

Apparently the color and clarity hold good favor with the diamond, and it is probably not going end up in a ring.