Kris Humphries Auctioning Kim Kardashian’s Engagement Ring [Photo]

Kris Humphries has confirmed that he plans to auction ex-wife Kim Kardashian’s engagement ring.

Rumors surfaced last month that Humphries was planning to auction the ring off to the highest bidder at Christie’s in New York. A rep for the NBA player confirmed the rumor Saturday.

“The ring is indeed Kris’ property that he received through his marriage dissolution. He has long-since moved on,” the rep said. “Kris is very much looking forward to a successful auction at Christie’s and of course to returning to the court this upcoming NBA season as a Boston Celtic.”

The Lorraine Schwartz custom ring is valued between $300,000 and $500,000, much less than the $2 million Humphries paid. Christie’s describes it as “an impressive diamond ring” that is the “property of a gentleman.”

The ring is “set with a rectangular-cut diamond, weighing approximately 16.21 carats, flanked on either side by a trapeze-cut diamond, each weighing approximately 1.80 carats, mounted in platinum.” The ring is I color with VS1 clarity. An I color means the ring is nearly colorless, and VS1 clarity means there are very small or slight inclusions that can be seen under 10x magnification.

A portion of the proceeds from the sale will go to charity, the auction house said on its website.

Kris Humphries and Kim Kardashian began dating in October 2010, and became engaged in May 2011. They married on August 20, and on October 31, it was announced that Kardashian had filed for divorce after only 72 days of marriage. The former couple reached a divorce settlement in April, and the divorce was finalized on June 3.

The Brooklyn Nets traded Kris Humphries and three other players, plus three future draft picks, to the Boston Celtics in June in exchange for Paul Pierce, Kevin Garnett, and Jason Terry. The deal was completed on July 12. The power forward started in 21 of 65 games during the regular season in his last season as a Net.

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