The most expensive jewelry in the world can go for as much as $3.1 million, according to a new study by analysts at brokerage firm Belk.
The study looked at the market value of about 40,000 pieces of jewelry, or roughly 1 percent of the jewelry market in the United States.
The report shows that the average ring or necklace sold on the market in 2018 was valued at $1.3 million, while a piece of jewelry that sold for $2.6 million was worth about $800,000.
A ring that was worth $3 million would be worth about the same as the next best piece of jewellery.
Belk estimates the average value of a piece on the open market in 2017 was $4.7 million.
That’s $2 million more than it estimates that the market will be worth in 2018.
The value of the market as a whole is estimated to be about $17.4 billion.
The study also found that while the market is experiencing a resurgence in demand, the price of the average piece of ring has not.
The average ring that sold in 2018 in the U.S. was $3 billion.
The average ring on the international market was $2 billion, the study said.
To be sure, some items are worth far more than the market price.
Belk estimated that about 50 percent of pieces of ring sold on average in 2017 were worth $5 million or more, or a whopping $6 billion in 2018 alone.