Diamond Ring Smashes Estimate at Fellows Auction

RAPAPORT... A diamond ring garnered nearly triple its high estimate following a bidding frenzy at a recent Fellows auction.The old-cut, 4.86-carat diamond ring fetched GBP 16,588 ($22,705) at the August 26 jewelry sale, beating its upper valuation of GBP 6,000 ($8,213). That price is one of the highest ever achieved for a single item of jewelry in a timed, online-only sale at UK-based Fellows, the auction house said last week.Eight bidders competed for the ring, placing a total of 72 bids before the hammer dropped. The auction also featured jewels from popular brands, including Cartier, Chopard, and Tiffany & Co."This beautiful diamond ring was one of the most popular items in our jewelry auction," said Ben Randall, senior specialist and catalogue manager at Fellows. "This alluring piece of jewelry shot above its auction estimate and it received a huge amount of bids. The ring is simply stunning, and the...diamond attracts your eyes whenever you are in its presence. It was no surprise to see such strong interest in the ring."Image: The 4.86-carat diamond ring. (Fellows)