A 30-carat yellow diamond that was expected to fetch up to $2 million at a Toronto auction on Sunday was nabbed for a bargain price of $500,000.

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."


Sunday’s auction also saw a number of other prized items that were available for purchase, including jewellery previously owned by celebrity Jennifer Lopez, and a 158-carat emerald and diamond jewellery set valued at $750,000.