30-carat Yellow Diamond Sells for Just $500,000

CTV News reported Sunday that a 30-carat yellow diamond that had been expected to sell for as much as $2 million sold for just $500,000. It was sold by Ritchies Auctioneers in Toronto.

As quoted in the market news:

The rock — the largest, coloured diamond ever to be put on the auction block in Canada, according to Ritchies Auctioneer – generated a lot of buzz prior to Sunday’s event at the Four Seasons Hotel.

‘We have a lot of interest locally and also internationally,’ Kashif Khan of Ritchies told CTV Toronto prior to the purchase. ‘We have people that are bidding from overseas…from China, South America, even from Russia.’

Click here to read the full CTV News report.