Industry News by Nemesis

Was Public Auction the Undoing of Sale of 1,109-Ct Diamond?

August 7, 2016

 

In a lengthy article in Vanity Fair, writer Paul Hart gives what he claims to be the inside story regarding the offering for sale at Sotheby's in London in June of the 1,109-carat tennis ball-size Lesedi La Rona diamond and how the diamond fell far, far short of the owners' confident predictions. By selling straight to an end buyer, Lucara could have all the proceeds for itself.

 

However, the big global players apparently did not want to "expose" themselves to the full glare of media publicity in bidding for the giant gem. They would have preferred the old-fashioned way of sitting quietly and privately with the owners and finding a price that would work for both sides.

 

Click here for Vanity Fair article.

 

Source: The Diamond Loupe

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