Mystery buyer purchases most expensive diamond ring auctioned in Australia for $1.25million


Mystery buyer purchases the largest diamond ring ever auctioned in Australia – smashing the price guide

  • Mystery buyer snapped up the $1.25million ring in an auction on Tuesday night
  • The ring is Australia’s largest diamond ring at 25-carats and the most expensive
  • Previously record belonged to 17-carat diamond ring auctioned for $575,000 

A lucky mystery buyer has snapped up Australia’s largest ever diamond ring after it was auctioned for a whopping $1.25million this week.

The 25.02 carat square emerald-cut diamond ring had a price guide of between $900,000 to $1.2million as it went to Leonard Joel’s Important Jewels auction on Tuesday night.

As well as being the largest, the ring’s sale has also quickly made it the most expensive ring auctioned in the country.

Previously that title belonged to a 17-carat diamond ring which sold for $575,000 last year.

The 25.02 carat square emerald-cut diamond ring had a price guide of between $900,000 to $1.2million as it went to Leonard Joel's Important Jewels auction on Tuesday night

The 25.02 carat square emerald-cut diamond ring had a price guide of between $900,000 to $1.2million as it went to Leonard Joel’s Important Jewels auction on Tuesday night

While the buyer of the mesmerising ring remains a mystery, the seller was an Australian expat who had bought it a few months earlier as an investment.

The million dollar ring was ‘ethically mined’ in Canada’s Northwest Territories and the smaller diamonds which encrust the band together weigh 3.25 carats.

Hamish Sharma, head of important jewels at Leonard Joel’s said in his 40 years of experience, the 25-carat diamond ring was in a league of its own.    

‘When you look into it, it sort of mesmerizes,’ he told Nine News.

‘When people put it on, they haven’t been able to take it off.

‘It’s like a holy grail… not quite – but where do you find another?’ 

While the buyer of the mesmerising ring remains a mystery, the seller was an Aussie expat who had bought it a few months earlier as an investment

The million dollar ring was mined in Canada's Northwest Territories and the smaller diamonds which encrust the band together weigh 3.25 carats

The million dollar ring was mined in Canada’s Northwest Territories and the smaller diamonds which encrust the band together weigh 3.25 carats

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