A Toronto auction house is expected to see a sale price of over $1 million this weekend when it tenders a rare, 28-carat white diamond.
According to The Vancouver Sun, the centerpiece of the auction at Sutton Place Hotel in Vancouver is a rectangular emerald cut.
The managing director for auction house Ritchies Auctioneers, Kashif Khan, said that the diamond will most likely be bought by an international dealer or collector. He told The Vancouver Sun that in all likelihood the stone would be kept as an investment since it is very rare for anything over 20 carats to hit the open market.
The auction house has been receiving phone calls about the diamond from prospective buyers in Hong Kong, Dubai, and Singapore.
It will also offer a rare pink diamond ring originally from Australia’s Argyle Diamond Mine, where 80 percent of the world’s pink diamonds are produced. The ring is estimated to fetch about $100,000.