Fraudster Melissa Caddick’s engagement ring is spotted on sale in a small antiques shop for 10 times the price it sold at auction

Notorious con artist Melissa Caddick’s custom diamond engagement ring has turned up at a small antique shop with a staggering price tag of $70,000.

The solitaire diamond ring, specially made by Sydney-based jeweler Stefano Canturi for her engagement to hairdresser and DJ Anthony Koletti, is among the stock held by Jewelery Library in the town of Blackheath in the Blue Mountains west of Sydney.

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

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

The engagement ring, worth $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 contains a large rare 1.83 carat white diamond surrounded by side diamonds weighing a combined 1.2 carats and two brilliant cut black sapphires weighing 0.04 carats.

The ring with a rare 1.83 carat white diamond turned up at an antiques shop in the Blue Mountains town of Blackheath with a charming price tag

The ring with a rare 1.83 carat white diamond turned up at an antiques shop in the Blue Mountains town of Blackheath with a charming price tag

Con wife Melissa Caddick wears an iconic Oscar De La Renta ball gown and Canturi necklace at a social event with husband Anthony Koletti

Con wife Melissa Caddick wears an iconic Oscar De La Renta ball gown and Canturi necklace at a social event with husband Anthony Koletti

Jewelery Library listed the item with an eye-watering $70,200 valuation, but said they would be willing to negotiate up to half that price with an interested buyer.

The business, located in the Victory Theater building, is undergoing a rebrand to Investment Jewelery after it was recently bought out, although it is understood that any unsold stock, including the ring, will remain in the store to sell.

Johnathon James, who runs Jewelery Library, told USA Online Post Australia on Saturday that the ring ‘definitely attracts the attention of everyone who visits it’.

‘It was bought by a barrister in Sydney who is good friends with the Packer family and who bought many of her items 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 her fame and provenance we wanted to capitalize on that, although we would be prepared to negotiate and reduce the price significantly if there was a genuine buyer.’

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

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

Caddick’s case caught 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 Dover Heights mansion in Sydney shortly after agents from the Australian Securities and Investments Commission raided her home.

After a foot of Caddick washed up on the NSW South Coast, police declared the case closed.

But other theories persist, including that she amputated her foot and stashed money to run to rural NSW or overseas.

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

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

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

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

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

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

“A lot of people who visit the shop make comments about why she wasn’t wearing the ring when she disappeared,” Mr James said.

‘The whole saga is controversial, but in my opinion, if she did run away and disappear and not meet her death, wouldn’t she have taken the ring?

‘It is very valuable and also has sentimental value. I would assume it would be one of the few things she would take with her.’