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Discount wholesaler Costco is selling a diamond ring for $499,999.99

Discount retailer Costco is selling expensive diamond rings (PA)

Discount retailer Costco is selling a diamond ring for half a million dollars.

The huge ring, which retails at AU$499,999.99 (£272,000), was spotted at a Costco warehouse store in Canberra, Australia.

The sparkling diamond was nestled in ‘the aisle between bulk AA batteries and dustpans’, according to Jennifer Bechwati.

Bemused at the impressive 6.55 carat solitaire ring, which boasts a platinum setting, Sky News politics reporter Ms Bechwati shared it with her followers on Twitter.

More than 5,700 users liked her tweet and it prompted sarcastic replies such as ‘How much is it at Aldi?’ and ‘You have to buy them in a value six pack’.

A spokesperson for Costco confirmed the diamond ring was a ‘WOW’ item in the firm’s jewellery department and that similar designs are available in all nine warehouse locations in Australia.

‘Each one is unique to that warehouse, but in each Australian warehouse the wow item is around that price.

‘We pride ourselves on selling the highest quality products at the best possible price, across a huge scope of departments, including high-end jewellery,’ the spokesperson told Daily Mail Australia.