Largest Diamond Fails to Sell in Sotheby London Auction
The 1,109-carat diamond Lesedi la Rona or “our light” remained unsold at an auction at London after the highest bid of $61 million didn't meet the minimum expected selling price. The diamond was expected to sell at $86 million. However, the highest bid only reached $61 million, far from the given “reserve price”, leaving the biggest diamond found in more than 100 years unsold at a Sotheby's auction on Wednesday.
It is unclear what will happen to the diamond after the auction, but analysts are now looking at the potential of a private sale, most likely in a deal where Lucara Diamond Corp., the company who owns the Karowe mine where the diamond was unearthed, will still have some interest from the polished stones.
News are provided byInstaForex.