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Sierra Leone rejects $7.8 million offer for world's largest diamond

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A much-anticipated auction for one of the world's largest diamonds fizzled when Sierra Leone rejected a $7.8 million bid for the egg-sized gem. The government says the amount fails to meet its valuation. The 706 carat stone was unearthed by a pastor. Five bids were handed to auctioneers in a sealed brown envelope. They ranged from 2 million to 7-point-8 million-dollars. The Sierra Leone government is hoping to get more for the stone at an international auction in Belgium or Israel.

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