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Home > Diamond News Center > Diamond News > World

50-Carat Diamond Sells for “Ridiculously Low” Price at Toronto Auction

14.11.11, 10:15 / World

The diamond was put up for sale by its Belgian owner

A 50-carat diamond auctioned in Toronto on Sunday fetched only $2.7 million, a fraction of its estimated value of $10 million, the Toronto Star reports.
Kashif Khan, managing director of Ritchies Auctioneers, called the price “ridiculously low.” Nevertheless, he noted, the $2.7 million figure ($3 million including commission) was still the highest price ever fetched by a diamond at a Canadian auction.
Comparatively little is known about the diamond itself, which was put up for sale by its Belgian owner.
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