GUEST: This ring belonged to my grandmother and she passed away in 1981.

Before that time, she was quite a fancy lady.

Loved to wear her rings and her blings.

Got her hair done every week, got her nails done and put her rings on and went out.

So when she passed away, I went through her closet.

And in the pockets of her jackets, I found this ring wrapped in a little piece of tissue.

She did not have a jewelry box, but she hid her rings and her jewelry in her closet on the clothes.

APPRAISER: This ring was probably made in the 1920s.

GUEST: Mm-hm.

APPRIASER: And it's probably American.

GUEST: Mm, okay.

APPRAISER: Okay, and in the center, that-that nice stone is an old European-cut diamond.

The center stone is just under three carats by formula.

Around the ring, you have more old European-cut diamonds and some single-cut diamonds.

GUEST: Ah!

APPRAISER: And then you can see there are two lines here...

GUEST: Mm-hm.

APPRAISER: ...of channel-set sapphires.

GUEST: Wow, wow.

APPRAISER: Now you can see someone definitely wore this ring...

GUEST: Mm-hmm.

APPRAISER: ...because some of the sapphires are missing.

GUEST: Yes.

APPRAISER: It's not a difficult repair.

GUEST: Yes.

Yes.

Yes.

APPRAISER: It really doesn't affect the value of the ring that much.

Above the stone on each side are these little tiny cutouts.

GUEST: Yes, yeah, yeah.

APPRAISER: So you're just kind of playing with that as well.

It c-- your eye keeps moving, there's all these details.

This is an incredible attention to craftsmanship.

GUEST: Wow, wow.

APPRAISER: And it's not marked at all, so we don't know who made it.

GUEST: No.

APPRAISER: I would insure this at $25,000.

GUEST: $25,000, okay, wow.

Well, that's a beautiful ring.

$25,000, okay, wow.

That's-that's a beauty.

Yeah.

(chuckles) Jenny, gee whiz.

Whoo!

(laughing): Grandma, thank you!

(laughs)