The world’s largest uncut diamond, a magnificent piece of rock that is millions of year old, was offered on sale recently in an auction. But surprisingly, it did not find any buyer. So is it because the economy is bad and billionaires/collectors didn’t have sufficient money to shell out?
Well, it seems the asking price was too much.
“Every aspect of tonight’s auction was unprecedented,” Sotheby’s (BID) said in a statement: “No one alive today has ever seen a gem-quality rough diamond of this incredible scale, and no diamond — polished or rough — has ever been estimated at this price level.”
The diamond, named ‘Lesedi la Rona’ was auctioned in London by Sotheby’s, and the expected price of Lesedi la Rona was $70 million. However, the highest bid received was short by almost 15% ($61 million).
Billed as ‘the find of a lifetime’, the discovery of the diamond had created quite a buzz since it was found in Botswana by Canada’s Lucara Diamond Corporation. While companies usually offer it to reputed dealers, Lucara deciding to auction it.
However, much to the surprise of everybody, it failed to get a buyer as the highest bid did not reach the minimum reserve price.
There are some who feel that its the effect of UK leaving the EU.