Photo: Mariah Carey's Boyfriend Gives Her $500,000 Diamond Necklace Which Looks Like It Costs $60

Does this look like a $500,000 necklace to you?

Mariah Carey has found love with new boyfriend, James Packer, and as expected, is already receiving sentimental gifts from him.

The singer showed off this yellow heart-shaped diamond necklace worth $500,000 which Parker bought her yesterday on her Instagram with the caption: "Happy backstage right before last night’s show...#NTT “‘If you look inside your heart...”

Follow the jump to see the debacle:

The thing now is that fans are saying that the necklace doesn't look like anything close to $500,000 and are insisting on the fact that the necklace cannot be more than $60.

TILB Readers, how much do you think this necklace costs just by looking at it? Honestly speaking, I don't think it looks like a $500,000 necklace at all. Your thoughts?

See more photos after the jump: