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Rs.643 diamond ring looted, sold at Rs.4,22,29,025 (42Cr)

Rs.643 diamond ring looted, sold at Rs.4,22,29,025 (42Cr)
Photo Courtesy: CNN

London:  A diamond ring which was purchased at a car boot sale for Rs.643 (£10) has been sold for Rs.4,22,29,025 (£656,750) at auction after the owner cum thief assumed the jewel, bought in 1980s, was a costume piece.

Named the “Tenner” diamond, the ring was originally purchased in the 1980s from a car boot sale.

The 26.27 carat diamond is thought to have been cut in the 19th Century but its history and how it arrived at the sale is unknown.

It was recently confirmed by the Gemological Institute of America (GIA) as a genuine.

Another highlight of the Sotheby’s sale was a Cartier diamond brooch worn by Margaret Thatcher on a number of high-profile public occasions, including the day she offered her resignation as Prime Minister to the Queen.

With its geometric chevron design, the brooch achieved £81,250.

The sale will be donated to the Endeavour Fund – a charity that supports the recovery of wounded, injured and sick servicemen and women.

Jessica Wyndham, Sotheby’s head of the London jewellery department, said: “It was a thrill to bring the hammer down on two objects which have been the subject of so much interest and attention over the last few weeks and to see that attention translate into such strong bidding competition.”