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Kris Humphries to Put Kim Kardashian’s Engagement Ring Up for Auction

Denise Truscello/WireImage(LOS ANGELES) -- After settling his divorce to Kim Kardashian, NBA player Kris Humphries is reportedly selling the 20-carat diamond ring he gifted the reality star when he proposed.

US Weekly reports the Boston Celtics player has put the Lorraine Schwartz ring up for auction at Christie's in New York City.  The ring will go on sale Oct. 15.

And while Christie's isn't sharing who the seller is, they did confirm it was a Lorraine Schwartz ring with a 16.21-carat center diamond with two 1.80-carat diamonds on the side, which happens to be the exact description of Kardashian's former engagement ring.

A source tells the magazine, "It is 100 percent the same ring.  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."

The ring is expected to sell for between $300,000 and $500,000 at auction -- much less than the $2 million Kardashian paid for it, US Weekly says.  Yes, a source says Kardashian paid for the diamonds.

"The ring is definitely not worth $2 million, not even half of that," the source added.

Kardashian filed for divorce in 2011 just 72 days after getting married.  Their divorce was finalized in June.

Copyright 2013 ABC News Radio

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