No Buyers For 179-Carat "Vulcan" Diamond

The largest single-crystal diamond ever to go on sale -- the 179 carat 'Vulcan' failed to find a buyer even at its opening price of 400,000 euros (dollars). The egg sized gem, weighing over 380 carats in its rough form, was expected to go under the auctioneer's hammer for well in excess of US$1 million, but the ten or so potential buyers attending the auction in Saint-Amand-Montrond, central France decided to forgo bidding on the stone.

The auctioneers blamed volatile global economic markets for the lack of interest in the rare gem. Skilled craftsman worked on the stone for some 15 years, cutting and polishing the black, pear-shaped diamond, which is now mounted on a platinum and white gold brooch.

The Vulcan is now headed home to its owner, where it is likely to remain for another decade or so.