The Real Star of The Diamond Heist

Image: The Millennium Star (De Beers)

As storylines go, The Diamond Heist would have been far more compelling if the robbers had actually stolen the Millennium Star.

Arguably the most exciting segment of Netflix’s three-part mini-series is the infuriating misdirection just before the climax, suggesting that, 25 years later, the Millennium Diamond thieves might still be at large in Spain.

“Oh wow, wait, huh? Arrggg! If only…” I caught myself mumbling. By then, you too would have probably googled the outcome — if you weren’t already familiar with the case. (See this write up in Only Natural Diamonds).

Ultimately, the story wraps up with the police emerging as legends, pre-empting the robbers’ every move. And yes, I wish I cared more about that outcome. Don’t judge me — I know you do too.

Let’s be honest: stories of clever policing rarely strike the same romantic chord as what could have been the most successful diamond heist of all time. Even the filmmakers admit as much when the “good guys” — including De Beers’ head of security — almost apologetically tip their hats to the robbers’ audacity.

So, spoiler alert aside, the series still offers entertainment value if you enjoy Guy Ritchie’s signature narrative and editing style. Personally, I found it a little out of place for a true-crime saga. At times, I felt like I should’ve been watching Snatch — Ritchie’s iconic film about a stolen 86-carat diamond, released, coincidentally or not, around the same time as the Millennium Star saga was unfolding.

I’ll admit: several times during the documentary, I longed for those quirky Snatch characters, since Richie’s attempts to create similar personas out of this less endearing gang of thieves — for me, anyway — fell a little flat.

What can’t be replicated, though, is the true star of the show — the Millennium Star itself. By the end of the first episode, the diamond becomes almost a supporting character, but it’s still what draws you in, just as it drew the thieves to London’s Millennium Dome in 2000.

Its story begins in 1990, in Zaire (now the Democratic Republic of the Congo), where it was discovered as a 777-carat rough diamond in an alluvial deposit. De Beers purchased the stone in the mid-90s, while the country was in civil war, and partnered with Steinmetz Diamond Group (now Diacore) to cut the mesmerizing polished diamond that captured global attention.

A quick sidenote: De Beers and Diacore have maintained their partnership, and with De Beers now active in the polished market again, expect more collaboration on such high-end show-stopping stones.

As for our star, the 203.04-carat, D-color, internally flawless (IF-clarity) pear-shaped diamond is believed to be the largest of its kind. But where is it today?

De Beers reportedly sold the Millennium Star in 2006 to an unnamed buyer, most likely in Asia. Perhaps in our lifetime, it will reappear — in all probability via an auction, where it would no doubt garner much fanfare and record valuations, though its unlikely it would achieve the GBP 300 million ($400 million) exaggerated price tag touted in the documentary.

And with its newfound Netflix fame, now might be the perfect moment for a comeback. All this only adds to provenance and mystique of the stone, which, but for an impressive police operation, would have been snatched for good.

The Diamond Heist may not be a classic documentary, but the thieves arguably played their part in adding lore — and value — to a once-in-a-millennium diamond. Now, that’s a story worth telling.