Kim Kardashian's engagement ring auctioned off for $620,000

(UPI) -- Kim Kardashian's enormous engagement ring, which features a 16.2-carat center diamond and two 1.8-carat side diamonds, sold for $620,000 at Christie's auction house in New York City on Tuesday.

After auction fees, the anonymous buyer will end up paying a whopping $749,000. The ring was initially expected to sell for $300,000 and $500,000.

Though it's obviously an enormous sum for any piece of jewelry, some estimated that Kris Humphries originally shelled out $2 million for the ring, which Kardashian returned to him when their "lifetime" union ended after 72 days.

"It bounced between two phone bidders and two bidders in the back of the room," a Christie's rep told E! News. "Good participation all around. It was the last item in the morning session."

Humphries rep said the Boston Celtics forward was "very pleased" with the price and planned to donate the proceeds to charity.

"The ring is indeed Kris' property that he received through his marriage dissolution," his rep said last week. "He has long-since moved on and is very much looking forward to a successful auction at Christie's on Tuesday, and of course to returning to the court this upcoming NBA season as a Boston Celtic."