Diamond ring worth USD 500,000 stolen in Australia

A rare diamond ring worth half-a- million dollars was stolen today from an auction site in broad daylight in Australia.

Melbourne: A rare diamond ring worth half-a- million dollars was stolen today from an auction site in broad daylight in Australia.

The pink argyle and white diamond ring, valued at 577,000 Australian dollars, was taken from a display counter at Theodore Bruce Auctions in New South Wales.

It is estimated that around 100 people walked through the auction centre during that time.

An attendant discovered the ring was missing and immediately contacted police. The investigations in the case are going on.

The police had not been able to acquire CCTV footage of the theft, however, the diamonds on the ring have been laser-inscribed with a serial number, Sydney Morning Herald reported.

Pink argyle diamond is one of the rarest and most precious diamonds in the world, with prices of USD 500,000 typical for a single pink argyle ring. Some estimates suggest the world will exhaust its pink argyle supply by 2020. 

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