Kim Kardashian's 20-carat engagement ring from failed marriage to Kris Humphries sells at auction for $749,000

Sold: The engagement ring once belonging to Kim Kardashian, pictured in August 2011, has sold at auction for $620,000

Kim Kardashian's 20-carat engagement ring has sold at auction for a cool $749,000.
The enormous diamond ring, given to the reality star by ex-husband Kris Humphries, was purchased by an as-yet unknown buyer at Christie's in New York City on Tuesday.
Bidding for the 16.21 carat Lorraine Schwartz diamond began at $200,000 at the auction, entitled 'Bright and Beautiful'.
The ring, which features two 1.8 carat side diamonds, will end up costing the buyer $749,000 taking into account the auction house's mark-up.
'As the finale of the morning session, Lot 194 saw active participation in the room, on the phone banks, and from Christie's LIVE,' the auction house spokesman Gabriel Ford told MailOnline.
'This impressive diamond ring was sought out by 2 bidders in the back of the room, one online bidder and was ultimately won by a bidder on the phone.'
It was confirmed last month that Kris was selling the ring which was originally reported to have cost $2 million.
But following the estimate of Christie's jewellery experts, it appears that he paid far less for the ring than reported at the time.
But bad publicity surrounding the Humphries-Kardashian divorce may have had an effect on the sale.

Bling: The sparkler was used by Humphries to propose to Kim back in May 2011

Return: Kim Kardashian returned the ring to her former husband following her divorce

Same cut: The seller of the ring is known only as 'a gentleman' but the description exactly matches the ring Humphries gave Kim Kardashian (pictured left and right) before their 72-day marriage

Mr Ford previously told MailOnline that their team of experts 'estimate on what they deem it worth at this time (of the auction)'.
Kris proposed to Kim with the ring back in May 2011 and it seems she returned the piece of jewellery to him after their marriage ended.
The website reports that a portion of the proceeds from the sale will benefit a charity which has yet to be named.

'Kim has been waiting for the day he would auction it,' a source told Us Weekly. 'Everyone always asked what Kim did with the ring - she silently gave it back over a year ago. And Kris waited until the divorce was final to sell it.'
The source tells Us that the ring is 'definitely not worth $2 million' and is unlikely to have cost even half of that price.

Showing off: Kim proudly displayed the ring that Humphries paid for. It ended up going to him in the divorce because he argued that their marriage was a sham and she did not deserve to keep the ring as a result

The rock: the ring was designed by Lorraine Schwartz, a family friend of the Kardashian's, who reportedly gave Humphries a good deal, though it was not clear how good a deal that was

A family friend of the Kardashians said Humphries reportedly 'got a great deal' by working with jeweller Lorraine Schwartz - a family friend who has designed for the Kardashian clan for years.
The Keeping Up With The Kardashians star was married to Kris for just 72 days before she filed for divorce at the end of October 2011.
Kim is now mother to baby North with her new beau - rapper Kanye West.

New man: Kardashian is now dating Kanye West, and the pair's daughter North was born on June 15

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