Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”
What 2017 Has in Store for the World’s Largest Rough Diamond
The Lesedi la Rona, which failed to sell last summer, likely will be offered via a sealed bid tender in 2017.
Vancouver B.C., Canada--The Lesedi la Rona, the world’s largest discovered diamond that’s still in rough form, likely will be offered for sale again in 2017.
The stone, which was found at Lucara Diamond Corp.’s Karowe Mine in Botswana in late 2015, currently is “undergoing detailed analysis to better understand the polished outcome,” Lucara CEO William Lamb said.
Last June, Lucara made the unorthodox move of trying to sell the Lesedi la Rona in a public auction.
The gamble didn’t pay off.
The 1,109-carat diamond failed to meet its reserve price at Sotheby’s London.
Now, Lucara is waiting on the diamond’s evaluation, which will be finished during the first quarter of 2017, to “determine the next steps in terms of the sale of the diamond,” Lamb told National Jeweler.
Prior to last summer’s sale, Sotheby’s reported that two independent experts predicted that the Lesedi la Rona would yield a polished diamond larger than the Great Star of Africa.
Following its evaluation, the stone’s reserve price was set at $70 million but the highest bid fell short, reaching only $61 million, $68.3 million with buyer’s premium.
“The analysis will provide a better estimate of what the stone could yield and subsequently provide guidance on the value of the stone in the rough,” Lamb explained of re-determining the stone’s price, though he noted that the figure won’t be made public once it is reached.
Though Lucara hasn’t confirmed how they will go about selling the stone, Lamb said they “are considering a sealed bid tender.”
Buyer interest in the Lesedi la Rona remains high, he added.
“We have had continuous requests regarding the stone since the Sotheby’s auction in June. Only those persons who have shown an interest since the auction and who have requested the information from the detailed analysis will be invited to further view the stone and participate in the sales process.”
A total of four suspects are now in custody with police still on the lookout for the remaining two.
From a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.
Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
“Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.
While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.
It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.
The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.
The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.
Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.
Sponsored by Bloomreach
As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.
These trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.
Namdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.
Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.
The auction house is celebrating 100 years since the discovery of King Tut’s tomb.