Looks like someone got a good deal on a big diamond!

Kim Kardashian's infamous engagement ring from ex-husband Kris Humphries sold for $620,000 at a Christie's auction in NYC on Tuesday. Quite a significant drop in price from the ring's initial reported worth of $2 million. Considering Humphries is taking a loss of over $1 million, we guess not that many people flush with cash wanted Kim's discarded ring that badly!

The ring which Kardashian initially paid for is a Lorraine Schwartz ring, and has a 16.21-carat center diamond, along two 1.8-carat side diamonds.

The bid opened at $200,000 and an anonymous online buyer purchased the sparkler for $620,000. However with Christie's pricey markup, the anonymous buyer will pay a total of $749,000 for the engagement ring. But despite the hefty price tag, that's still a significant loss on the original price of the bauble.

"The ring is definitely not worth $2 million, not even half of that," a source told Us Weekly.

Kardashian, 32, and Humphries, 28, were married for 72 days before the reality star filed for divorce on October 31, 2011. Their divorce was finalized in May.