NEWS
11/13/2011 01:57 EST | Updated 01/13/2012 05:12 EST

Do I hear $10 million? Rare 50-carat diamond up for auction in Toronto

TORONTO - A rare 50-carat diamond is up for grabs in Toronto.

The round diamond, valued at $10 million, will be auctioned off this afternoon at the Royal Ontario Museum along with dozens of other pieces of jewelry.

Organizers say it's the first time such rare items are up for auction in Canada.

Kashif Khan, director of the Ritchies auction house, says the sale is attracting international interest.

But he says it's hard to predict what price the diamond will fetch.

The auction is scheduled to run between 2 p.m. and 4 p.m.