Listed simply as an “Impressive Diamond Ring,” the diamond and platinum ring designed by Lorraine Schwartz sold for $749,000 during Christie’s New York Magnificent Jewels auction, held Tuesday.
The ring is set with a 16.21-carat rectangular-cut diamond with I color, VS1 clarity. The diamond is flanked on either side with a trapeze-cut diamond, each weighing approximately 1.80 carats. While the ring didn't achieve the original purchase price, it did easily beat Christie's high auction estimate of $500,000.
The celebrity couple separated after 72 days of marriage in 2011. The divorce became final in 2012.
Although reports started circulating as to the owner of the ring, the provenance wasn’t confirmed until an unidentified person representing the NBA basketball player told E! News that it was indeed being sold by him.
“He has long-since moved on and is very much looking forward to a successful auction at Christie's on Tuesday, and of course to returning to the court this upcoming NBA season as a Boston Celtic,” the representative said in a statement to the entertainment news network.
Rahul Kadakia, head of Jewelry for Christie’s Americas and Switzerland, who led the auction, announced that a portion of proceeds will benefit a charity.
Bidding began at $200,000 and quickly rose to $480,000. After a pause it went to $520,000. It then slowly climbed to reach a final bid of $620,000. Commission and fees brought the price of the ring to $749,000.
It was the last item of the morning session of the auction. It is scheduled to resume at 2:30 p.m.
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