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Paris Hilton auctions 5 million ring

Paris Hilton has reportedly auctioned off her 5 million engagement ring from ex-fiance Paris Latsis.

The hotel heiress sold the stunning diamond band in aid of victims of Hurricane Katrina, according to a report in Britain's Daily Star newspaper.

The winning bidder is said to have bought the ring for less than half of what Latsis paid.

Hilton called time on her romance with the shipping heir earlier this month because she claimed she wasn't ready for marriage.

The 24-year-old said in a statement: 'I'm sad to announce that I've called off my engagement. Over the last couple of months I've realised that this is the right decision for me.'

The blonde socialite - who got engaged to Latsis just five months ago after a whirlwind courtship - told the New York Post she doesn't want to rush into marriage.

She said: 'I feel I'm just not ready for marriage. I have seen the break ups between people who love each other and rush into getting married too quickly - and I do not want to make that mistake.'

October 17, 2005
POSTED BY Fabien Montique
TAGS Gossip

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Paris Hilton auctions 5 million ring