Junk sale diamond ring bought for £10 is worth a fortune

Junk sale diamond ring bought for £10 is worth a fortune

In a recent junk yard sale, a diamond ring was sold for worth £10, which supposedly turns out to be worth £350,000 (PKR 47,579,024/- ). The owner bought the 26-carat, cushion-shaped, white diamond ring for £10 in the 1980’s and wore it daily, thinking that it was a mere costume jewellery, Sotheby’s said.

“The owner would wear it out shopping, wear it day-to-day. It’s a good-looking ring,” said Jessica Wyndham, head of Sotheby’s London jewellery department.

Junk sale diamond ring bought for £10 is worth a fortune

“No-one had any idea it had any intrinsic value at all.”

“The majority of us can’t even begin to dream of owning a diamond that large.”

The diamond is thought to have been cut in the 19th century, when the style was to cut to conserve the weight rather than to make it as sparkly as possible, hence its relatively dull brilliance.

“It could trick people into thinking it’s not a genuine stone,” said Wyndham.

She said the owner, who does not want to be named, brought the ring in after a jeweller told them it could be worth something.

She said the owner was “incredibly excited. Anyone would be in this position: it’s a life-changing amount of money.”

“This is a one-off windfall, an amazing find.”

The ring will be auctioned on July 7.


Isra Shams

"Fashion is life and living in style makes a statement worth a while!" Hey, I'm Isra Shams, the Managing Editor at Brands Magazine & FHM Pakistan.

Read Previous

This is what Salman Khan has to say about Shah Rukh’s cameo in Tubelight

Read Next

Michael Kors announces to shut down 120 stores