Woman Buys $13 Diamond Ring. Worth Almost $500,000.

posted by Ritch Cassidy - 

Diamond from ring bought for $13 to auction for $453,000 - Business Insider                                               

Sotheby's London       The ring will be up for  auction in Sotheby London's Fine Jewels sale on July  7.         Gina Power /  Shutterstock          


  Thirty years ago, a woman in Isleworth, west London, bought an  "exceptionally sized" ring she assumed was costume jewelry for   £10 ($13) at a car boot sale. 

  Now, after decades of wearing the ring daily, she's about to get   £350,000 ($455,000) for it at a Sotheby's auction in July, if it  sells for its expected price. 

  That's because the ring is actually a 26-carat, cushion-shaped  white diamond from the 19th Century, according to  the BBC. 

  Head of Sotheby's London jewelry department Jessica Wyndham  called the ring is a "one-off windfall, an amazing find." 

According to  the Evening Standard, the owners are "incredibly excited."  "Anyone would be in this position, it's a life-changing amount of  money," she said. "No matter what your background is or what your  past experiences have been, it's going to revolutionize someone's  life." 

      

  Wyndham added that the unnamed owner did not think it was a real  diamond when she spotted it at the car boot sale, which took  place at West Middlesex Hospital, because it was "in a 'filthy'  mount" and did not sparkle. 

  "The owner would wear it out shopping, wear it day-to-day. It's a  good looking ring," she said. "But it was bought as a costume  jewel. No-one had any idea it had any intrinsic value at all.  They enjoyed it all this time." 

  She added that the cut of the ring was "slightly duller and  deeper" than today's designs. 

  "With an old style of cutting, an antique cushion shape, the  light doesn't reflect back as much as it would from a modern  stone cutting," she said. "Cutters worked more with the natural  shape of the crystal, to conserve as much weight rather than make  it as brilliant as possible." 

  However, when a jewelry told the owners the ring could be  valuable, they took it to Sotheby's and discovered ist true  identity after 30 years. 

  "They came in with the idea that it might be real and they had no  idea of its value," Wyndham said, adding that Sotheby's examined  the ring and had it tested at the Gemological Institute of  America. 

  "The majority of us can't even begin to dream of owning a diamond  that large." 

  She added that the owner had been to a number of car boot sales  over the years, but hadn't collected antiques or diamonds. The  ring will be up for auction in Sotheby London's Fine Jewels sale  on July 7. 

Ritch Cassidy

Ritch Cassidy

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