LIGHT LUNCH: 'Costume jewelry' diamond really worth hundreds of thousands - News - DailyTidings.com - Ashland, OR

Ashland Daily Tidings (Ashland, OR — Wayback)

2017-05-22

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LIGHT LUNCH: 'Costume jewelry' diamond really worth hundreds of thousands This is an undated image issued by auction house Sotheby's on Monday May 22, 2017, shows a large, 26.27 karat diamond ring. It's owner thought the diamond was a piece of costume jewelry for 30 years. SOTHEBY'S/AP Monday May 22, 2017 at 9:00 AM The gem bought at a flea market is expected to fetch about 350,000 pounds ($454,000) when it is auctioned by Sotheby's next month. The Associated Press LONDON — Some people have all the luck.   Consider the person who dropped about 10 pounds about $15 around 30 years ago on what was thought to be a piece of costume jewelry — it turned out to be a 26.27 carat white diamond.   The gem bought at a flea market is expected to fetch about $454,000 when it is auctioned by Sotheby's next month.   The buyer had no idea of the ring's value because 19th-century diamonds were not cut to show off their brilliance and clarity.   The auction house's jewelry department chief, Jessica Wyndham, said Monday the owner wore it on a daily basis, unaware that it was a real diamond.   She called it "an amazing find." The owners have asked not to be identified.