Paris Hilton sells engagement ring, $2m proceeds goes to Katrina victims

[Bush_Eats_Beef]

http://www.thesuperficial.com/archives/2005/10/18/paris_hilton_sells_her_engagem.html



"Britain's Daily Star reports that Paris Hilton has auctioned off her $4.7 million engagement ring from ex-fiancé Paris Latsis to aid victims of Hurricane Katrina. The winning bidder is said to have bought the ring for less than half of what Latsis paid, though $2 million is still considerably more than zero."

[EstimatedProphet]

1. She didn't give the ring back?

I mean, that's hard for the average guy, but not giving a $4.7 million ring back would really hurt somebody's finances...

The real tragedy of our society is that someone gave Paris Hilton a $4.7 million ring in the first place.

[nini]

2. He's from money too

I'm sure it didn't hurt his pocketbook any... the brats!

[Zuni]

3. 4.7 mil would hurt anyone's pocketbook

[Fenris]

5. It's certainly not small change.

[LynneSin]

13. When your family is worth 7.5billion dollars - that's like pocket change

http://www.salon.com/ent/col/fix/2005/10/04/tue/

[nini]

17. Thanks.. .that was my point

To us it's a mind boggling amount of money. To them? pft.. no biggie.

[EstimatedProphet]

8. Exactly

[nini]

16. Oh I agree

but I'm saying when you come from billionaires.. a couple million doesn't have the effect if you were only a piddly millionaire. :-)

I'm sure we would have heard them fighting about this if it was a major issue between them.

We have to remember these are spoiled children and if it was really THEIR money they had EARNED there would be a bigger issue. Not to mention the ring wouldn't have been that expensive in the first place.

[huskerlaw]

4. He's heir to some Greek fortune

Oil, I think. $4.7 million didn't make a dent.

[Fenris]

6. Shipping.

[Shell Beau]

7. She tried and he wouldn't take it

[EstimatedProphet]

9. ROFL!

Good one!

[Shell Beau]

10. Well that is what was reported.

Neither one of them need the money. It is good to see her doing something positive for once in her life.

[LynneSin]

11. He's actually worth substantially more money than she is

:D

[Zuni]

12. considering she hasn't earned .01$ in her life actually working

that really isn't a bad thing

[LynneSin]

14. Actually if you consider she's done a few movies and The Simple Life

she's been working. Not hard, back-breaking, sweat til you drop work - but she's been earning her own money

[Zuni]

15. if you call "The Simple Life" work

I'll give you that.

And I forgot about her film roles.

[Shell Beau]

18. Plus she modeled for Guess, and whatever that

hamburger commercial she did.

[mnmoderatedem]

27. not really

if it weren't for her family name and wealth, the "gigs" you mention would never have happened for her. She has not "earned" a thing on her own.

[radwriter0555]

19. What a nice thing to do... without too much fuss or squabble, just ending

what wasn't meant to be gracefully and with dignity.

A lovely gesture and some people are sure to benefit.

[AntiCoup2K4]

20. Paris Hilton is the female equivalent of Chimpy

Dumb rich kid who wouldn't be able to hold down a job at McDonalds if it wasn't for the money their grandparents made.

That said, it was still decent of her to donate the money.

[LisaL]

23. Is it? It's not her money to donate, considering she shouldn't have

kept the ring.

[radwriter0555]

24. When people have that much money, they come to an agreement. Clearly

this was a mutual decision, and he surely didn't want the ring back; what was he going to do with it?

2 million is the 'wholesale' price on a piece like that, and you can bet he didn't pay retail. People at that level don't pay retail.

In addition, someone gets a tax break for donating the proceeds to charity.

It's not that big of a deal, it's clearly a financial arrangement that they're both behaving very nicely about.

[LisaL]

25. LOL? How do you know that? It's not like there haven't been

lawsuits on who gets to keep the engagement ring.

[radwriter0555]

26. There was an agreement prior to the engagement actually. This is business

after all...

I suppose some drama would have played better in Paducka though, eh?

[Shell Beau]

30. He wouldn't take the ring back.

That is what both of their reps have reported. So therefore, she actually for once did the right thing.

[redqueen]

21. I'm impressed.

Nice to know she's doing something worthwhile with the thing.

Disappointed about the Ashton & Demi news... wtf?

[LisaL]

22. Isn't she supposed to give the ring back to her ex-fiancee?

I bet he could sue her for it.

[Kenroy]

28. he could sue

but he'd probably lose.

A gift is a gift.

[Love Bug]

29. It's really pathetic that I even know this, but

I read somewhere (probably People) that he told her to keep the ring, he didn't want it back.

And I believe it's been established in the courts that an engagement ring is a gift that is contingent on a promise of marriage and if the marriage doesn't take place, the ring should be returned.

[Shine]

31. Good on her.

:thumbsup: