A rare pink diamond, being called the most expensive diamond to be auctioned in Canada, comes under the block in Toronto on October 3. The gem has a pre-sale estimate $2.5 million to $3 million.

The sale is being held by Circa Auctions, along with millions of dollars worth of other gemstones.The value of pink diamonds is directly related to their rarity, with high-profile purchases, such as the six-carat diamond actor Ben Affleck bought in 2004 for then fiancée Jennifer Lopez, further raising demand for them.

A world-record price per carat was established in Hong Kong in December 2009, with the sale of a five-carat pink diamond for $10.8 million.

However that record-setting diamond was appraised as internally flawless, while the diamond to go under the block in Toronto is VS2.

Analysts say the buyer for the pink diamond is likely to come from Asia, or the Middle East, according to the report in The Star.
Credit is given to AWDC by DiamondTopics.com