A diamond ring that was purchased for just $13 at a car boot sale has been sold for a staggering $847,667 at the Sotheby’s Fine Jewels auction in London. The 26-carat ring was bought by an anonymous seller in the 1980s, who believed it to be a piece of costume jewelry. Decades later, the true value of the ring was revealed when the owner had it appraised by a local jeweler, who identified it as a cushion-shaped diamond set in a 19th-century mount.
Despite the estimated value of the ring being between $325,000 to $456,000, the final selling price was nearly double that. The buyer’s identity was not revealed, but it was disclosed that the ring was purchased as international trade within the industry, and not by a private collector.
What makes this sale particularly interesting is the fact that the ring’s mount and cut are unrecognizable to the modern-day wearer. According to Jessica Wyndham, head of Sotheby’s jewelry department, the diamond was cut in an old-fashioned style and the ring mount had darkened over time.
Tobias Kormind, a diamond expert and managing director of 77 Diamonds, predicts that the final selling price is only a fraction of what the ring may one day be worth. He believes that the new owner is likely to re-cut it into a modern diamond that will emit even more sparkle, potentially making it worth a multiple of today’s price.
Kormind also suggests that the ring may have once belonged to royalty or a person of great wealth, given its origins in the 1800s before the discovery of modern diamond mines when very few diamonds were available. This adds to the ring’s intrigue and allure, making it a valuable addition to any jewelry collection.
This sale serves as a reminder of the potential hidden treasures that can be found at car boot sales and flea markets. While it may seem unlikely, it is not unheard of for valuable items to be sold for a fraction of their worth due to a lack of knowledge or understanding. So, it may be worth taking a closer look the next time you come across an unusual piece of jewelry or antique at a second-hand market.
In conclusion, the sale of the $13 diamond ring for nearly $848,000 is a fascinating story that highlights the enduring allure of diamonds and the potential hidden treasures waiting to be discovered. The unique features of the ring, combined with its potential history, make it a valuable addition to any collection, and the possibility of its future value only adds to its appeal.