There were no bids on the Teodora “emerald” this Saturday when the auction opened… possibly due to the arrest of it’s owner Regan Reaney (who wanted to sell the stone for at least $1.15 million) was arrested for multiple fraud accusations and outstanding warrants for his arrest.


For true grading of an emerald, small parts must be chipped off and analyzed internally, something that Reaney refused to have done to the stone, and the assumption from the gemologist who examined it deemed it to be nothing more than enhanced green beryl (a tell-tale sign of emerald faking) which is essentially worthless as compared to true emeralds.


What do you think? Would you have tried to fool the world into thinking you had found the world’s largest cut gemstone, were the risks worth the potential gains? (It’s rumored that Reaney was shooting for a reality TV show.)