FOUND > $15 Flea Market Ring Fetches $847,000

Owner wore it 30-years... thinking it was Worthless 'Costume Jewelry'

The 19th-century Diamond Ring (pictured) was bought for $15 as Costume Jewelry.

June 7, 2017
By James Massey, What Sells Best News

LONDON (VIDEO) – Sotheby's reports, a $15 ring bought as 'costume jewelry' at a flea market, has fetched $847,000 at auction.

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The Global News, with Jeff Semple, produced an excellent video of the diamond rings back story in greater depth. Note, they estimated the rings pre-sale value in Canadian dollars.

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Thought to be Worthless and Worn for Decades

The owner, who thought they purchased a piece of worthless costume jewelry, reportedly wore the ring for nearly 30-years, almost daily. Until they found out the cushion-shaped diamond was real and at 26.27 carats, extremely valuable.

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Hidden by its 19th-Century Style

A BBC interview with Sotheby's jewelry specialist, Jessica Wyndham, reveals why the ring value may have been missed. Because of the way antique diamonds can lack the sparkle of diamond today.

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Wyndham states, older methods of diamond cutting were "slightly duller and deeper" than today, which can "trick people into thinking it's not a genuine stone."

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Auction Details

The diamond ring was sold by Sotheby's in London, on June 7, 2017 (lot number 364). The original auction estimate for the diamond was $320,550 - $448,770 (£250,000 - £350,000). Final price including buyers premium was $847,667.

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