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I bought ‘glass diamond’ ring at car boot sale for £10 – turns out it’s worth £470,000 thanks to very special stone
The mum says when she took the ring to a jeweller to get it valued he nearly fainted as he examined it
A MUM paid just £10 for a “glass diamond” ring at a car boot sale – but it turns out it is worth a cool £470,000.
Debra Goddard had kept the ring in a box for 33 years but fished it out again after her mum lost all her cash to a relative’s fraud.
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Hoping it might be worth around £750 she took it to a jeweller to get it valued.
The charity worker who has fostered more than 20 kids was told by the expert it wasn’t glass but a 26.27-carat gem.
It’s sale earned her £470,000 after auction costs in 2019.
Debra said: “When I went to the jeweller he nearly fainted and said, ‘Do you know what this is? It’s a diamond’. I sat up all night looking at it, wondering what to do.”
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She took it to auction house Sotheby’s, who confirmed its value.
She added: “It turned out to be the nearest you can get to perfection. It was like when Del Boy would tell Rodney, ‘This time next year, we’ll be millionaires’. It proved right.
“It’s karma for the bad things that happened in our lives and my mum being robbed of everything.”
Debra has remained in her council house in Twickenham, West London, has been treating her mum June Boyle with some of the money.
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Debra said: “She’s had holidays in Barbados, seen Tom Jones, seen Celine Dion in Las Vegas and bought a fur coat. The money isn’t important to me.”
Debra has also established a vintage jewellery firm that hunts for car boot sale bargains and has written a book on her exploits.
I struck gold when I found a £3k gem in my charity shop's 20p jewellery bin - but people say I shouldn't get too excited
She said: “I volunteer with a runaway kids’ charity. If this book makes money, I want it go to them and youth leaders.”
Earlier this month, a woman who bought an old brooch for £20 thinking it was costume jewellery - realised it was worth a lot more after seeing a TV clip.
Pros and Cons of selling valuable items at an auction
If you are considering an item through an auction house it may be worth weighing up the pros and cons, as revealed by .
You may want to confirm that the item you have actually is worth some serious money and not just to be flogged off at a car boot sale.
This is where a reputable auctioneer may come in handy and will likely offer a free valuation.
A professional appraisal will make sure of an accurate price when it is put up for sale, attracting potential buyers.
By using an auctioneer, they can provide the right platform to attract potential collectors or enthusiasts, while an online ad may simply get lost in the deluge.
An auction creates the environment of competitive bidding, where rival bidders try to out do each other, which can push the sale way over the estimated valuation.
Putting items up for auction can insurance a speedy sale as there is a fixed date of possible sale, whereas it could take ages for an ad to attract a buyer.
The reputation of an auction house may be important as this will proceed them and establish credibility which will attract serious buyers who will respect the opinion of an auction house.
It’s not all plain sailing though and there are some potential drawbacks.
There are fees and commissions involved. While with selling privately, the owner gets to keep every penny but an auction house will charge fees and commissions for their efforts.
The outcome of an auction isn’t certain and the seller doesn’t have control over the final price, which could be less than was expected.
Details of auction items and how much they sold for are often publicly available which may not suit someone who wants to maintain their privacy and discretion.
The item maybe undervalued by an auction house if they lack the expertise in how to market a particular item and don’t have the specialist knowledge.
Sellers should also be aware that there is very likely going to be a deferred payment once their item has been sold. This is often down to a settlement period in place and admin issues.
While in October last year, a woman who paid £1 for a brooch at a car boot sale was stunned to discover just how much it was really worth.
Meanwhile, a guest on Antiques Roadshow was left reeling after discovering just how much their gold ring was really worth after paying just £90 for it.
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