Nigerian News Beat

Kim Kardashian's 20-carat engagement ring has sold at auction for a cool $749,000.

The enormous diamond ring, given to Kim 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 said,

'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.