×
162
Fashion Jobs
L'OREAL GROUP
Sales Executive - Professional Division - Bhopal
Permanent · Bhopal
L'OREAL GROUP
Executive - Sales Cpd - Bhatinda (n)
Permanent · Bathinda
L'OREAL GROUP
Sales Executive - Cpd - Bhatinda
Permanent · Bathinda
L'OREAL GROUP
Area Sales Manager, Cpd - Chandigarh
Permanent · Chandigarh
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Lighting Retail Sales (Rajkot)
Permanent · Rajkot
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager
Permanent · Aurangabad
ELECTRONICA FINANCE LTD
Area Sales Manager - Bangalore Machinery Loan
Permanent · Bengaluru
NANDANI CREATION LTD
Production Manager
Permanent · Jaipur
ELECTRONICA FINANCE LTD
Area Sales Manager - Kolhapur Machinery Loan
Permanent · Kolhapur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
CELEKT GADGETS LLP(A UNIT OF CELKON IMPLEX LTD).
Area Sales Manager / Executive (Male or Female)
Permanent · Adilabad(U)
ACME SERVICES
Sales & Marketing Manager For a Leading Apparel Company
Permanent · Mumbai
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Bihar All District)
Permanent · Katihar
HEALTHKART
Area Sales Manager- Healthkart - Lucknow, Agra, Gwalior
Permanent · Lucknow
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Rajasthan) All District
Permanent · Kota
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Uttar Pradesh)
Permanent · Gorakhpur
KALPA ELECTRIKAL PVT. LTD
Hiring Assistant Production Manager- Transformers/ Switchgear Industry
Permanent · Bengaluru
MEDLEY PHARMACEUTICALS LTD
Area Sales Manager - Delhi, Jodhpur & Kota
Permanent · Kota
MEDLEY PHARMACEUTICALS LTD
District Sales Manager - Calicut
Permanent · Kozhikode
CHOLAMANDALAM INVESTMENT & FINANCE
Area Sales Manager - Sme / Lap (Mumbai)
Permanent · Mumbai
CENTURY PLYBOARDS (I) LIMITED
Project Sales Manager
Permanent · Thiruvananthapuram
By
AFP
Published
Jun 30, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

World's largest uncut diamond fails to sell in London

By
AFP
Published
Jun 30, 2016

The world's largest uncut diamond failed to sell at auction in London on Wednesday after the bids fell short of the reserve price.


The Lesedi di Rona, an uncut diamond weighing over 1,000 carats, failed to find a buyer. - Sotheby's



The Lesedi La Rona, a 1,109-carat, tennis ball-sized gem found in Botswana, had been predicted to sell for over $70 million.

But the Sotheby's auctioneer failed to persuade bidders to go above $61 million for the jewel, which was discovered in 2015 by the Lucara Diamond Corp.

"Though widely admired in the months preceding this evening's auction, and despite having seen bidding in the salesroom, the Lesedi la Rona failed to reach its reserve price and consequently did not find a buyer tonight," Sotheby's said in a later statement.

Sotheby's chairman of jewellery David Bennett had called the diamond "the find of a lifetime."

"No rough even remotely of this scale has ever been offered before at public auction," Bennett said ahead of the auction.

Precious stones have been fetching ever-higher prices at auction lately, as the world's ultra-rich invest in hard assets as a safeguard against stock market volatility.

Reacting to the failed sale, Tobias Kormind of 77 Diamonds online retailer said the bullish gem market "may have reached a tipping point and demand for large rare stones might just be saturated".

Alternatively, he said, "the market instability with Brexit may have just caused this to be a case of bad luck or bad timing."

Lesedi La Rona means "our light" in Botswana's Tswana language. It could be cut into smaller gems for jewellery or left whole in a private collection.

On the same day as the stone was discovered, another 830-carat diamond was found in Botswana, the third-largest in the world, William Lamb, Lucara's president and chief executive, told AFP.

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.

The Cullinan Diamond was cut into nine diamonds for the British crown jewels.

They include the Cullinan I in the Queen's Sceptre and the Cullinan II, which is lodged in the crown that the British monarch wears to the opening of parliament.

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

 

Copyright © 2021 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.