The 1,109-carat Lesedi la Rona is the second-largest gem-quality rough diamond ever found, but bidding didnt reach the Sothebys reserve price

Turns out the largest diamond discovered in over a century may not be worth that much after all.

The tennis ball-sized Lesedi la Rona failed to find a buyer on Tuesday, a disappointing result for a stone that had been described as the find of a lifetime by David Bennett, the chairman of Sothebys jewellery division.

The diamond was unearthed in November in Botswana at a mine owned by Canadas Lucara Diamond Corporation. It measured 1,109 carats, the second-largest gem-quality rough diamond ever discovered. Its name means our light in the Tswana language.

A spokeswoman said bidding reached $61m below the $70m minimum Sothebys had hoped for.

No rough diamond of this size had ever been auctioned, and after Wednesdays sale it is unclear if one will for a while.

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Biggest diamond discovered in 100 years fails to sell at London auction
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