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Con artist Melissa Caddick’s engagement ring has been spotted selling at a small antique store for 10 times the price it sold for at auction

Notorious con artist Melissa Caddick’s custom diamond engagement ring has turned up at a small antique store for a whopping $70,000.

The solitaire diamond ring, custom-made by Sydney jeweler Stefano Canturi for her engagement to hairstylist and DJ Anthony Koletti, is in storage at the Jewelery Library in the village of Blackheath in the Blue Mountains west of Sydney.

Caddick, 49, disappeared on November 12, 2020, after stealing $30 million from investors, including family and friends, while working as a financial advisor.

Caddick’s extensive collection of designer jewellery, artwork and clothes was auctioned off in 2022 as part of efforts to repay her victims, with the items fetching more than $800,000.

The engagement ring, valued at $39,200 new, was expected to fetch between $7,000 and $10,000 at auction, but sold at the low end of that estimate, fetching a modest $7,000.

The piece features a large rare 1.83 carat white diamond surrounded by side diamonds totaling 1.2 carats and two brilliant cut black sapphires totaling 0.04 carats.

A ring with a rare white diamond weighing 1.83 carats has turned up at an antique shop in the Blue Mountains village of Blackheath with a stunning price tag.

Conwoman Melissa Caddick in an iconic Oscar De La Renta ball gown and Canturi necklace at a social event with her husband Anthony Koletti

The jewelry library listed the item with a glamorous estimate of $70,200, but said it would be willing to negotiate up to half that price with an interested buyer.

The business, which is based in the Victory Theater building, is being rebranded as Investment Jewelery following a recent buyout, although it is understood that any unsold stock, including the ring, will remain in the store for sale.

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Johnathon James, who runs the jewelery library, told Daily Mail Australia on Saturday that the ring «definitely attracts the attention of anyone who visits».

“It was bought by a solicitor from Sydney who is good friends with the Packer family and bought a lot of her stuff that went up for auction.

“His wife didn’t want it and he gave the ring to us to help him sell it.

«The price is expensive, but with its notoriety and provenance, we wanted to take advantage of that, although we would be willing to negotiate and significantly reduce the price if a genuine buyer was found.»

The ring was given to the Jewelery Library antique shop in Blackheath (pictured) by a Sydney barrister who wanted to help sell it after his wife said she didn’t want it.

Caddick’s case captured the attention of the Australian public, fascinated by the mystery surrounding what happened to her. She has not been seen since her disappearance in November 2020.

Police believe she took her own life by jumping off cliffs near her home in Sydney’s Dover Heights shortly after Australian Securities and Investments Commission agents raided her home.

Police have declared the case closed after a leg belonging to Caddick washed up on the NSW south coast.

But other theories persist, including that she had her leg amputated and stashed the money so she could flee to rural NSW or overseas.

When ASIC investigators raided Caddick’s property, they found a stunning collection of diamond and sapphire rings (above). The engagement ring is not in the photo

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Caddick’s Dover Heights home (pictured) was sold at auction for an undisclosed price but was expected to fetch more than $10 million

An LV Flame Twist MM bag owned by Caddick that sold at auction for $4,909

«A lot of people who visit the shop comment on why she didn’t have a ring when she disappeared,» Mr James said.

“The whole saga is controversial, but in my opinion, if she really ran away and disappeared and didn’t meet her demise, wouldn’t she have taken the ring?

“It is very valuable and has sentimental value as well. I would imagine it would be one of the few things she would take with her.’

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