Diamond “Costume” Ring Bought At Garage Sale For $13 Goes For Almost Double Its Initial Estimated Value

Remember a couple of weeks ago we told you about the diamond bought at a garage sale for $13 turned out to be worth $456K?  It actually sold for a lot more than that!

At an auction in London the other night, Sotheby’s Fine Jewels sold the rare gem at almost double what they thought it would get: not $325,000 to $456,000…but $847,667.

An anonymous seller bought the 26-carat ring at a garage sale back in the 80s: thinking it was costume jewelry.  Only decades later, when they got it appraised by a local jeweler, did they discover its true value.

It’s interesting to know the cushion-shaped diamond was set in a tarnished and dirty 19th century mount.  It’s been rumored the unidentified buyer will probably re-cut the diamond to make it even more valuable.  The reason?  Diamonds from the 1800s were made for candlelight: not today’s white artificial light…the re-cut will bring out that brilliance.  This diamond was most likely owned by a wealthy person…or even royalty: because modern diamond mines weren’t in existence back then…and diamonds weren’t widely available.

Source: CNN Style

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