$7.7 million bid for Sierra Leone 709-carat diamond fails
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A Sierra Leone official says a $7.7 million bid for a 709-carat diamond has failed because it didn't meet the government's target price.
The diamond discovered in March caused a sensation and is the second-largest ever found in this West African nation. The gem, a bit smaller than a hockey puck, is among the 20 largest diamonds ever found.
The director-general of the National Minerals Agency, Sahr Wonday, says the highest bid at Thursday's auction was turned down.
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Wonday says the diamond will be auctioned again in Belgium to get the best price. He is not disclosing the government's reserve price.
In 1972, the 968.9-carat Star of Sierra Leone was found by miners and sold for about $2.5 million.