The world's second-largest diamond was just found - it's not as great as you think

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The world's second-largest diamond was found in Botswana - big whoop.

The 1,758-carat diamond weighs 352 grams and is the size of a tennis ball. The extraordinary discovery won't live up to the financial hype however; experts believe it to be worth far less than the previous second-largest diamond.

Uncovered by Vancouver-based company Lucara Diamond, the gem was found in the Karowe mine, which has become a hot bed for record-breaking gem finds.

"Karowe has now produced two diamonds greater than 1,000 carats in just four years," said Eira Thomas, CEO of Lucara in a press release, "affirming the coarse nature of the resource and the likelihood of recovering additional, large, high quality diamonds in the future..."

The diamond that previously held the No. 2 spot eventually sold for $53 million. However, the press release labeled the latest find as "near gem of variable quality" which is diamond-speak for size not mattering as much.

Other parts of the diamond to consider include color, clarity and how the gem can be cut. Experts believe that lack-of-clarity may play a factor this time.

The largest diamond ever found was in South Africa in 1905 - a 3,106-carat Cullinan Diamond. Part of that diamond is now in the British Royal Family's crown jewels.