Kim Kardashian engagement ring from Kris Humphries fetches $749,000

Image: Kim Kardashian NBC
Kim Kardashian shows off her ring from Kris Humphries during an appearance on TODAY in October 2011.

Sold! Kris Humphries has successfully auctioned off the massive 16-karat engagement ring he proposed to Kim Kardashian with, a spokesperson for Christie's confirms to E! News.

The diamond bling fetched a whopping $749,000 on Tuesday!

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

The final sale price far exceeded the presale estimate of between $300,000 and $500,000.

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"Kris is very pleased with the final result," Humphries' rep told E! News of the sale, which a source tells us came through Christie's Geneva office. The rep adds that Humphries hasn't decided on which charity to donate the proceeds to, but that it's a "top priority" for the 28-year-old basketballer.

Last week, Humphries' rep confirmed to E! News that the sports star planned on auctioning off the ring.

"The ring is indeed Kris' property that he received through his marriage dissolution," the rep said in a statement. "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."

Humphries and Kardashian got engaged back in May of 2011. They married on Aug. 20, 2011, and split after 72 days of marriage. Their divorce was finalized June 2013.

-- Reporting by Holly Passalaqua and Marc Malkin

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