World's Largest uncut Diamond fails to sell at Sotheby's

Share

It could be a Brexit after effect, as expressed by a Sotheby's official, that the World's largest uncut diamond was left unsold at the auction. Named Lesedi La Rona, the largest uncut diamond, so far was predicted to fetch at least USD 70 million. However, the bidding went up only to USD 60 million keeping it off the sale. The bidders did not go beyond USD 61 million and the diamond failed to reach its reserve price. Lesedi Di Rona is a 1,109 carat diamond. Its size is equal to a tennis ball. The piece of diamond was found in Botswana in 2015. In Tswana language of Botswana, Lesedi Di Rona means "Our Light." It was a minted by Lucara Diamond Corp, a Canada-based Company, and was auctioned at the Sotheby's. The diamond was found at the Karowe Mine owned by the Company. Chairman of Sotheby's Jewellery, David Bennet called the diamond "the find of a lifetime." According to him, the auction event was the largest ever of its kind in the public domain. The Di Rona is believed to be 2.5 billion years old. Another 830-carat diamond was discovered on the same day of the discovery of Di Rona. It bagged the position of World's third largest diamond. Gemological Institute of America cited that the color and transparency of the Di Rona align it with type IIA diamond. These are most chemically pure diamonds. An example of IIA type is the Cullinan Diamond. It is the biggest diamond in the world, but is cut into nine pieces to bedeck on the Queen's Crown of England. The legendary jewel has mythological significance in India, from where it was moved to England during the colonial period.