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Last month we received word that Kris Humphries was indeed auctioning off Kim Kardashian’s engagement ring. The big day has finally arrived as the $2 million Lorraine Schwartz diamond has officially been sold for a shocking amount!

It’s True! Kris Humphries Is Auctioning Off Kim Kardashian’s Huge Engagement Ring

Getty Images

Getty Images

So what did the bidder snag the bauble for in total? $740,000! Even being worn by Kim herself, the creation was only expected to sell for $300,000 to $500,000—props to Kris for landing almost $200,000 more. With a beautiful 16.21-carat center diamond and two 1.8-carat side diamonds, we’re happy the gem earned the higher re-sell value it deserves.

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So why did Kris wait this long to sell the ring? According to a source at US Weekly, “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.”

Getty Images

Getty Images

What do you think of the ending bid for Kim Kardashian’s engagement ring? Tweet @OKMagazine and comment in the section below.

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