Kim Kardashian's ex-husband Kris Humphries has sold the engagement ring that he gave to the reality TV star at auction in New York, for an eye-watering $620,000.

Let’s look at the Kim Kardashian and Kris Humphries 72 day marriage by the numbers. The wedding cost a reported $10 million (which they didn’t pay for) and they earned $18 million from wedding. Kim Kardashian ‘s gigantic engagement ring from ex-husband Kris Humphries has been sold at an auction. Us Weekly confirmed that Kardashian’s 20-carat ring sold at a Christie’s auction on Tuesday for a whopping $620,000 to an anonymous buyer. Bidding started at $200,000. When Kris Humphries proposed to Kim Kardashian in 2011, he impressed her with a 20.5-carat Lorraine Schwartz ring worth about $2 million. The couple split after just 72 days of marriage and Kim returned the ring, which fetched just $620,000 when it was auctioned off at Christie’s in New York.

According to Us Weekly, the Lorraine Schwartz-designed bauble - which features a 16.21-carat centre diamond - went under the hammer at a Christie's auction in the Big Apple on Tuesday. The bidding was said to have opened at $200,000 and quickly rose to the final price of $620,000, which, with Christie's buyer's premium added on top is set to cost the anonymous buyer the princely sum of $749,000. However, news of the sale price has surprised many after reports at the time of their engagement claimed that the ring was worth in excess of $2 million.

Speaking about the sale of the rock to Us Weekly, a source revealed: 'Kim has been waiting for the day he would auction it… 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 ring is definitely not worth $2 million, not even half of that.' Meanwhile, a portion of the proceeds from the sale of the jewel are due to benefit a charity - although which charity this will be has yet to be determined. Kardashian and Humphries married in August 2011 before the reality TV star filed for divorce after just 72 days, with the former couple only finalising their split in May of this year. SOURCE: US WEEKLY

The end of an engagement is a sad and stressful time. The future you had envisioned is off the table—instead, you’re making new plans and trying to move on. But what about the ring?

When Kim Kardashian and Kris Humphries got divorced after their short-lived marriage, Humphries sold the engagement ring at an auction for $749,000. Interestingly enough, Kardashian is reportedly the one who actually bought the ring in the first place, and the disposition of the ring was included in their divorce settlement. Not every couple has a ring worth nearly three-quarters of a million bucks, but most engagement rings are valuable, and deciding what to do with one can be a contentious issue.

Who gets the rock?

Each state has its unique laws about who owns the ring when an engagement ends. In New York, North Carolina, Minnesota, Tennessee, and many other states, the ring is considered a conditional gift. It’s given to the wearer as part of the agreement to marry. If the couple decides not to marry, the ring has to be returned to the giver. In Kansas and Montana, meanwhile, the ring is a gift with no strings and is owned by the person it was given to, even if the engagement is broken. And in California, the person who ended the engagement has to allow the other person to keep the ring.

Exceptions to the rules

In some states, if the ring was given for the engagement but also as a gift for Valentine’s Day, Christmas, a birthday, or another occasion, it may be considered a non-returnable gift. Most states don’t alter the law if the ring was a family heirloom in the giver’s family, although it seems as though that should make the recipient of the ring think twice about keeping it.

Kris Humphries Engagement Ring Cost Comparison

In fact, according to Joanna Grossman, a professor at Hofstra University School of Law in a CNN interview, “What people do is largely dictated by cultural traditions, and many aren’t aware of what the law requires.” For what it’s worth, etiquette doyenne Emily Post says that a ring should always be returned when an engagement is broken.

How to sell the ring

If you’re left holding the ring at the end of an engagement and want to sell it, you probably hope to get close to what it cost in the first place. First step: research what the diamond is worth. You might want to get it appraised, but be aware that an appraisal is usually for insurance purposes and may not reflect the current going price for a ring like yours. So look at prices for comparable rings and stones to get an idea of actual prices in the current marketplace.

You might consider selling the ring on eBay or to a pawnshop or jeweler. Always check a business’ Better Business Bureau rating if you decide to sell to a store. You’re likely to get more money for your ring if you sell it directly to another person, since a store has to make a profit when they resell a ring they buy from you. However, if you’re in a hurry, a store might be a better option than waiting for right buyer.

Another possibility is selling the ring through a site like I Do Now I Don’t, which provides an online marketplace for sellers and buyers. The ring and the payment are handled through the site, which offers a layer of protection for both parties, but you’ll pay a commission to the site.

Kris Humphries Engagement Ring Cost Per

Finally, when choosing how to handle the ring, keep in mind that ending an engagement is upsetting not just to you but likely to your former intended as well. Recognizing this, you might consider selling the ring and splitting the proceeds. After all, you both have an emotional investment in that ring, so sharing the financial one as well seems like an equitable solution for both parties.