Hugh Hefner's ex-fiancee sells engagement ring

Hugh Hefner's former fiancée has sold the engagement ring he gave her for almost half price.

The 85-year-old Playboy founder was due to marry Crystal Harris, 25, in June.

She had second thoughts about the nuptials and called it off days before she was due to walk down the aisle.

Last month it was revealed she had listed the 3.39 carat ring Hefner had given her on an auction website.

The sale took place in New York City on Tuesday, and a lucky bidder managed to pick up a bargain.

According to TMZ, the band sold for US$38,000 (NZ$48,015), rising to US$47,500 once fees and taxes were calculated.

Hefner originally paid $90,000 for the jewellery.

Despite the surprising reduction in price, the ring actually did better than had been predicted. Auctioneers had valued it at between $20,000 and $30,000.

Before deciding to sell the band Harris had tried to return it to her former fiance.

However, he reportedly wasn't interested in having it back.

She apparently decided to get rid of it to help her move on with her life.

"[Crystal] couldn't bear to look at the ring anymore because it brought back bad memories," a source explained.

Earlier this month, Hefner revealed he has no hard feelings about the auction. He explained he was happy for Harris to keep the ring as he also got something from their relationship.

"I got the dog, she got the ring," he laughed.

"I got the best of it."

- AAP

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