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Lesedi La Rona Poised For 1H Sale
Dec 18, 2016 10:23 AM
By Rapaport News
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RAPAPORT... Lucara Diamond Corp. plans to sell the 1,109-carat Lesedi La
Rona in the first half of next year, after the rough diamond failed to find a buyer at a Sotheby’s auction in June.
The stone, which is the second largest rough diamond ever recovered, is currently undergoing analysis to determine the most
valuable way it can be polished. Lucara expects the analysis will be completed midway through the first quarter before it initiates another sales process.
The stone will not be placed on auction again, William Lamb, Lucara's president and CEO stressed in an email to Rapaport News. The diamond missed
its reserve price at a Sotheby's sale in June, as the highest bid came in at $61 million, versus an estimate
of more than $70 million, or $63,120 per carat.
“We have not yet determined the best mechanism for the sales
event. It will not be an auction,” Lamb said. The most likely format will be a
single bid offer, which may or may not be sealed, Lamb added. He also ruled out
partnering with another company as Lucara did when it sold the 813-carat Constellation diamond by retaining
a 10 percent interest in the stone.
“We have had a significant number of people continue to
show interest in the stone,” Lamb reported. Only those diamantaires who have
directly requested it will be given the data ahead of an “exclusive
sales event.”
“We do not have a time for when this will occur but the
hope is that we will be able to finalize its sale within the first half of
2017,” Lamb said.
Image: Donald Bowers/Getty Images for Sotheby's
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Tags:
Auctions, Lesedi La Rona, lucara, Lucara Diamond Corp., Polishing, Rapaport News, rough sales, Sotheby’s, William Lamb
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