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Thursday, 30 June 2016 - 11:14
World's Largest Uncut Diamond Fails To Sell In London
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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 La Rona, a 1,109-carat, tennis ball-sized gem found in Botswana, had been predicted to sell for over $70 million (52.2 million pounds).

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.

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.

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