This Is What A 1,111 Carat Diamond Looks Like

Earlier this week, we introduced you to the world's most expensive diamond: a AU $67 million navy stone, which was sold to a billionaire - and then given to his seven-year old daughter.

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Depressingly, she also owns a $40 million AU pink diamond - aptly named Sweet Josephine.

It seems her expensive collection may be about to be dethroned however: today, the world's second biggest diamond has been uncovered - and at 1,111 carats, it's certainly going to be worth its weight in gold.

Discovered in Botswana, the diamond is being touted as "the find of the century" and is second only in size to one found in 1905.

"The magnificent stone, which originated from the south lobe of Lucara's Karowe Mine, is the world second largest gem quality diamond ever recovered and largest ever to be recovered through a modern processing facility," said mining company Lucara.

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"The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century....cannot be overstated."

While the diamond hasn't been valued yet, it's certain to attract a bidding war.

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Currently, the world's largest diamond, found in South Africa, is set in pieces within the Crown Jewels of Britain.