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World's second-largest diamond fails to sell at Sotheby's auction

Sotheby's in London did not succeed in finding a buyer for the world's second largest diamond as none of the bidders meet the undisclosed minimum price for the 1,109-carat uncut stone, dubbed the Lesedi La Rona.

World's second-largest diamond fails to sell at Sotheby's auction

It is learned that the precious gem will continue to be the property of Lucara Diamond Corp., the original seller. The highest bid was $61 million, which was much less than $70 million prediction of Sotheby's.

"Sadly, Lesedi La Rona was not sold but it is a magnificent stone and it will go down in history as one of the greatest stones ever discovered," Sotheby's said in a statement.

It was expected that the uncut stone would break the record for most expensive diamond ($57.5 million) and most expensive rough gem ($63 million). The diamond was found in November from Lucara Diamond's Karowe mine in Botswana and is the largest diamond discovered in the past century.

Lucara Diamond's aim was to sell the diamond directly to wealthy buyers to capitalize on current gem prices, but it failed in its attempt.