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World’s Second-Largest Diamond Fails to Sell at Auction

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Brexit possibly to blame as bidding falls short of the reserve price.

The world’s second-largest diamond – dubbed Lesedi La Rona and weighing in at 1,109 carats – failed to sell at a Sotheby’s auction in London on Wednesday, which was “perhaps the result of Brexit jitters,” CNBC reports. The auction house estimated the diamond would fetch $70 million, the article says, though the highest bid of $61 million fell short of the reserve price. “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 to the news outlet.

Read more at CNBC

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