Huge diamond sold at discount

Huge diamond sold at discount

BANJARMASIN, South Kalimantan: A 66.22-carat diamond, one of the largest every found in the country over the last two decades, was sold by a local miner at a price far below that of other bidders from outside of Kalimantan.

Leading diamond dealers in Banjarmasin said on Monday that the buyer of the rare gem was Yusuf, a citizen of Martapura, Banjar regency's diamond center, but the date of purchase had not been announced for "security reasons".

Oyong, a prospective buyer in Martapura, told The Jakarta Post that he was disappointed by the lack of transparency and the obvious price differential because he knew of some Singapore entrepreneurs who were ready to pay some Rp 10 billion while it sold for a mere Rp 4.5 billion.

The big pink diamond, named Galuh Norsehan, originally belonged to Bakhrani, who found it in the Musang river, a mineral panning site in Cempaka district, Banjarbaru.

Meanwhile, the city revenue office of Banjarbaru claimed to have received no reports from the seller and the local mining office so that no tax was paid to the local administration. --JP