Kris Humphries, the 28-year-old Boston Celtics forward, is willing to auction off the engagement ring that he purchased for ex-wife Kim Kardashian for $1 million less than what he paid.
Humphries representatives recently spoke out about the basketball player's right to sell the diamond at Christie's auction house.
"The ring is indeed Kris' property that he received through his marriage dissolution," the rep said in a statement, according to E! reports. "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."
Christie's auction house will sell the custom made Lorraine Schwartz rectangular-cut diamond ring for over $500,000 despite the fact that Humphries paid $2 million for his wife of 72 days, Kardashian.
"[It's] set with a rectangular-cut diamond, weighing approximately 16.21 carats, flanked on either side by a trapeze-cut diamond, each weighing approximately 1.80 carats, mounted in platinum," the description of the ring reads on the Christie's website.
Humphries is looking to donate a portion of the money made on the rings to charity, E! reports. Kardashian and Humphries split up 72 days after marrying in 2011, but the latter refused to dissolve the marriage until earlier this year.
Kardashian previously spoke about why the divorce process took so long.
"I can't really speak for him. I think the facts are I filed for divorce, he's suing me for an annulment and the only legal way to ever get an annulment is if there is fraud involved," Kardashian previously explained before her divorce was granted while on Shade 45's radio show "Sway In The Morning." "So he is claiming that I (defrauded) him to marry him for publicity. To me, who would ever do that? He was someone that I loved a lot but you can love someone a lot and realize they're not the right person for you. I would have rather ended it when I felt that way than waste a year of my life not being happy."
Later, Kardashian opened up about her positive feelings for both herself and her ex-husband.
"I'm just glad for Kris and I both, that we can just move on," Kardashian told Extra TV. "Ultimately, we just wanted the same thing so I'm glad that we could come up with an agreement and move on for both of us."