World's largest uncut diamond fails to attract buyer

New Delhi , News Nation Bureau | Updated : 30 June 2016, 10:02 AM

The world's largest uncut diamond failed to sell at auction in London after the bids fell short of the reserve price. The Lesedi La Rona, a 1,109-carat, tennis ball-sized gem found in Botswana, had been predicted to sell for over $70 million. It is believed to be more than 2.5 billion years old.

The Lesedi la Rona, which means ‘our light’ in the Tswana language spoken in Botswana, was discovered by Lucara Diamond Corp’s Karowe mine.

David Bennett, worldwide chairman of Sotheby’s jewellery division, said the diamond’s discovery is “the find of a lifetime”.

On the same day as the stone was discovered, another 830-carat diamond was found in Botswana, the third-largest in the world.

The record for the biggest diamond in the world is still held by the "Cullinan Diamond", a legendary gem found in South Africa in 1905 boasting 3,016.75 carats.

A blue diamond from the same South African mine sold for over £25 million in New York this month.