A 26.11 carat diamond found recently by a brick kiln owner at Panna in Madhya Pradesh was sold for Rs 1.62 crore which was the highest price among the diamonds sold in an auction carried out on February 24 and 25, according to Panna district collector Sanjay Kumar Mishra.

A local trader bought this diamond, which was found by Sushil Shukla, who operates a small-scale brick kiln business, in a shallow mine located in Krishna Kalyanpur area. The proceeds from the auction will be handed over to him after the deduction of government royalty and taxes.

There were 87 other rough diamonds that were sold for a total of Rs  1.89 crore at the auction held at Panna, known as the state’s diamond city which is situated 380 km from the capital Bhopal.

On the first day, 36 diamonds collectively weighing 82.45 carats were sold for Rs 1.65 crore, Mishra said.

Besides, 52 diamonds weighing 78.35 carats fetched Rs 1.86 crore on the second day.

Panna district has reserves estimated to be containing diamonds worth 12 lakh carats, according to officials.