$13 'costume' diamond ring sells for over $800K at auction
A ring thought to be costume jewelry sold for a little under $1 million at
Sotheby's auction this week.
An anonymous buyer purchased the ring for £10 ($13) at a car boot sale, or
an open market sale in the U.K., in the 1980s, according to Sotheby's auction
house. The person originally believed the ring was simply costume jewelry but
learned that it was actually a 26.29 carat diamond after Sotheby's appraised it
several months ago.
The "genuine cushion-shaped" diamond sold for £656,750 ($847,667) at the Sotheby's Fine Jewels
auction in London on Wednesday, CNN reported.
While many might think it inconceivable that someone would have a multi-carat
diamond and not realize it, the old-fashioned cut may have tricked the
buyer, Jessica Wyndham, head of the auction house's jewelry department told
CNN in May.
"When we think of diamonds, we think of modern cuts, of brilliance," Wyndham
told CNN. "This wouldn't have looked like that. The silver had tarnished, and
there was probably some dirt. These diamonds were made for candlelight, not our
white artificial light, so it was all about trying to bring out its fire."
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