Fortune has a story about a diamond that weighs 1,109 carats.  The stone, which was sold recently by the Canadian mining company Lucara Diamond, was discovered in 2015 at Lucara’s Karowe mine in Botswana.  This is the largest diamond found in the last century.  The record is held by the Cullinan Diamond, which was found in 1906 in South Africa.

After a year of negotiations, the British jeweler Graff Diamonds has bought the world’s second-largest diamond, the tennis-ball-sized Lesedi La Rona.

The Canadian mining outfit Lucara Diamond (LUCRF) had been struggling to sell the 1,109-carat uncut stone, with a Sotheby’s auction last year failing to achieve the $70 million reserve price. Experts suggested the diamond was simply too big to allow accurate analysis of the gems it might yield.

The highest bid in that abortive auction was $61 million. So, what did Graff pay in the end? $53 million.

“Our highly skilled team of master craftsmen will draw on many years of experience of crafting the most important diamonds, working night and day to ensure that we do justice to this remarkable gift from Mother Nature,” founder Laurence Graff said in a statement. “The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties.”

Graff already bought a fragment of the Lesedi La Rona rough earlier this year for an undisclosed amount. The smaller 374-carat diamond was originally part of the larger, but broke off during extraction. Graff described the new purchase as enabling a “poignant reunion” of the two pieces.