Kim Kardashian’s Engagement Ring Fetches $749K At Auction
First Published: October 15, 2013 2:17 PM EDT Credit: Getty/Christie’s
NEW YORK, N.Y. -- Kim Kardashian is off the market – and now, so is her engagement ring!
Kim’s former fiancé Kris Humphries has successfully auctioned off the ring he says he used to propose to Kim with – and it went for a whopping $749,000!
A Christie’s auction house source confirmed the transaction on Tuesday to Access Hollywood.
“It was between two bidders in the room and ultimately went to a bidder on the phone. Great participation all around,” the source told Access.
The 16 carat Lorraine Schwartz sparkler was valued between $300,000 - $500,000 prior to auction.
“Set with a rectangular-cut diamond, weighing approximately 16.21 carats, flanked on either side by a trapeze-cut diamond, each weighing approximately 1.80 carats, mounted in platinum, in a Lorraine Schwartz pink wood case,” the ring’s description on Christies.com noted.
The auction item was also described as the “property of a gentleman” and it stated that a portion of the proceeds would “benefit a charity.”
While the ring was reportedly valued at approximately $2 million when Kris popped the question to Kim back in May 2011, another source tells Access that price is exaggerated and “all conjecture.”
At its current auction price, the ring is worth just slightly more than $10,000 ($10,402.77 per day, to be exact) for every day of Kris and Kim’s failed 72-day marriage.
A rep close to Kris told Access Hollywood that the basketball player is “very pleased” with the sale.
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