The government of Sierra Leone on Thursday rejected a $7.8 million bid
for one of the world's largest uncut diamonds found by a pastor saying it
failed to meet its own
valuation.
The 709 carats diamond was discovered by Emmanuel Momoh, a Sierra Leonean
pastor who found it in the Kono district of the country in March and handed it
over to the government to sale.
According to the chief auctioneer and head of the National Minerals
Agency, Sahr Wonday, he said five bids
were handed to auctioneers in a sealed brown envelope, ranging from $2 million
to $7.8 million.
He said the top bid was made by a man in a white shirt and light trousers
on behalf of Belgium diamond dealer Ray Diam BVBA but was actually rejected as
it fails to meet the country's valuation.
We've decided not to sell the diamond today because the highest bid price
... does not match the government reserve price,' He told a packed room.
Wonday said the government will be going to an international auction in
either Antwerp, Belgium or Tel Aviv in Israel to get substantial offers for the
stone.
Reacting to the diamond auction fails, Pastor Emmanuel said: 'I was unhappy with the highest bid
price," said Momoh. His stone, he said, "is worth a lot more than $7.8
million."
The diamond is the biggest to be in Sierra Leone since 1970, when the
969-carat Star of Sierra Leone was dug up.
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