30 June 2016

Auction Update: The Lesedi La Rona Diamond

The Lesedi la Rona Diamond (Photo: BEN STANSALL/AFP/Getty Images)

On Wednesday, one of the largest diamonds ever discovered, the Lesedi la Rona Diamond, was put up for sale at Sotheby's in London. And the result was...

Photo: BEN STANSALL/AFP/Getty Images

... there was no result! The bids for the diamond did not reach the reserve price, so the enormous uncut gemstone did not sell. Bids for the diamond reached $61 million, but the piece was anticipated to sell for at least $71 million. Because the piece didn't reach the desired price, the diamond is still owned today by Lucara Diamond Company, owners of the mine where the diamond was found. The BBC reports that the company's stock fell after the diamond failed to sell.

Photo: BEN STANSALL/AFP/Getty Images

The Lesedi la Rona was found in Botswana in November. Its name means "our light" in the local Tswana language. You can read more about the diamond in our previous post!