Kim Kardashian's 20-carat engagement
ring has sold at auction for a cool $749,000. The enormous diamond ring, given to the
reality star by ex-husband Kris Humphries, was purchased by an as-yet unknown
buyer at Christie's in New York City on Tuesday. Bidding for the 16.21 carat Lorraine
Schwartz diamond began at $200,000 at the auction, entitled 'Bright
and Beautiful'.
The ring, which features two 1.8 carat
side diamonds, will end up costing the buyer $749,000 taking into account the
auction house's mark-up. 'As the finale of the morning session,
Lot 194 saw active participation in the room, on the phone banks, and from
Christie's LIVE,' the auction house spokesman Gabriel Ford told MailOnline.
'This impressive diamond ring was
sought out by 2 bidders in the back of the room, one online bidder and was
ultimately won by a bidder on the phone.'
It was confirmed last month that Kris
was selling the ring which was originally reported to have cost $2 million.
But following the estimate of
Christie's jewellery experts, it appears that he paid far less for the ring
than reported at the time.But bad publicity surrounding the
Humphries-Kardashian divorce may have had an effect on the sale.
Kris proposed to Kim with the ring back in May 2011 and it seems she returned
the piece of jewellery to him after their marriage ended. The website reports that a portion of
the proceeds from the sale will benefit a charity which has yet to be named.
'Kim has been waiting for the day he
would auction it,' a source told Us Weekly. 'Everyone always asked what Kim did
with the ring - she silently gave it back over a year ago. And Kris waited
until the divorce was final to sell it.'
The source tells Us that the ring is
'definitely not worth $2 million' and is unlikely to have cost even half of
that price.
Source: Dailymail uk
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