The Golden Eye has a new owner.
The fat 43.5-carat yellow diamond seized five years ago by the federal government during a local drug investigation sold Thursday for $2,843,623 during an online auction.
U.S. Marshals used Bid-4Assets.com of Silver Springs, Md., to sell the diamond to the highest bidder. According to the website, 16 bidders took part in the auction. A flurry of bids in the waning minutes extended the auction an additional 20 minutes.
The feds’ $2 million reserve was not met until near closing time at 3 p.m. Thursday. Bidding began Tuesday and required participants to submit a refundable deposit of $180,000.
The identity of the winning bidder was not immediately disclosed.
The actual value of the diamond had been widely speculated. Some have said it was worth as much as $20 million. It measures about 1 inch long and three-quarters of an inch wide.
The U.S. government seized the jewel in late 2006 during an undercover federal sting that led to criminal convictions against former Stark County businessmen Michael “Mickey” Miller and Paul Monea.
The diamond was being used in a private sale to launder drug money, authorities said.