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World’s biggest uncut diamond auctioned, failed to sell


London: Almost having the size of a tennis ball, the world’s largest uncut diamond is expected to be sold for over 52 million pounds at an auction in UK. The rough diamond is 1,109 carats and believed to be more than 2.5 billion years old. It had been expected to sell for more than £52m ($70m) but the highest bid was about £45m ($61m).

The auction at Sotheby’s was the first time a rough diamond of such a size has gone on public sale. After it failed to sell, the Canada-based company – which has retained possession of the diamond – saw its stock fall more than 14% on the Toronto Stock Exchange.

According to a study by the Gemological Institute of America, the rough diamond’s colour and transparency “exemplify” type IIA diamonds. Stones in this group are said to be “the most chemically pure and often show extraordinary optical transparency”.

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