Gold diamond ring 'to hold country's most expensive gem'

A gold diamond ring being presented in October will hold the most expensive gem ever made in the Czech Republic.

Set to cost CZK 30 million (£1 million), the gold diamond ring is to be presented by ALO Jewellery with model Petra Nemcova at a Prague jewellery fair, reports the Prague Monitor.

According to the report, the most expensive jewel made in the country for a national customer was previously a set of diamond earrings and a rose-shaped ring worth CZK 3 million.

Alojz Ryaavy, owner of the firm presenting the gold diamond ring, commented that demand for expensive accessories is growing.

"The demand for luxurious jewellery has definitely been on the increase.

"Anyone can afford a diamond jewel nowadays," he said.

In related news, a number of works by British artist Damien Hirst - including a pair of diamond-studded pieces - are expected to fetch a collective £65 million at auction this September.

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