It is not every day that you get to witness a diamond that is millions of years old; it also is not every day is such a magnificent piece of rock offered on sale. So when such an opportunity arises, it has to be seized at once. Well, at least that is what we at Luxpresso think. However, when an opportunity like this knocked on the doors of billionaires and collectors, the reaction was surprising.
The world’s largest uncut diamond, the Lesedi la Rona, was auctioned in London by Sotheby’s; and much to our surprise, it failed to get a buyer.
The precious rock failed to sell at this public auction as did not reach the minimum reserve price. Touted as ‘the find of a lifetime’, the expected price of Lesedi la Rona was $70 million, but the highest bid it received was just $61 million.
It had created quite a buzz since the time it was found in Botswana, last November, by Canada’s Lucara Diamond Corporation. While most companies would have offered it to a reputed dealer, Lucara shocked the industry by deciding to auction it.
We wouldn’t be surprised to know if Britain’s exit from the European Union was one of the reasons that affected the interest in the rock.
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