Diamond ring sells for $40k

A diamond ring containing a 0.65-carat precious stone has sold for more than estimated.

A diamond ring has changed hands for $40,000 (£25,000) during a jewellery auction in Dubai.

According to Retail Jewellery, the item far surpassed its estimate during the event at the Jumeirah Emirates Towers Hotel on October 27th.

The ring, which is part of a limited-edition collection containing ten pieces, is crafted from 18-carat yellow gold and features a dove motif.

It is set with a 0.65-carat diamond, as well as an 88-carat pink tourmaline

The diamond ring had originally been predicted to sell for between $8-$10,000 at the auction, which was titled Jewels and Watches: The Dubai Sale.

Also under the hammer at the sale was an elegant diamond necklace, which sold for $410,500 to an Asian private bidder, as well as an Art Deco ruby and diamond necklace, which fetched $338,500 from an anonymous buyer.

The news source noted the set from which the item comes features rings depicting one of three symbols – including a dove or a cross – that contain various-sized cabochon stones.