Paris Hilton sells her engagement ring Paris Hilton has reportedly auctioned off her £2. 7 million engagement ring from ex-fiancé 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" source : femalefirst http://www.femalefirst.co.uk/celebrity/66632004.htm >>>>>>>> I can't say for certain that this story is true. If it is, then I would expect to see it reported by much larger news organizations. While I am a bit surprised that she is surrendering that money over to Katrina victims, I also don't completely believe it. People say all the time that they are donating "proceeds" from sales to charity - but sometimes not all of it goes where it is supposed to. If this report is true, it is a significant donation for Paris to make. She isn't the billionaire heiress that most people think she is. She has "worked" quite a bit to make her money (public appearances, commercials, home video sales), so selling off a ring worth almost 5 million dollars is quite the sacrifice to make. While the cause is just, I think it is very poor etiquette to sell off a ring so quickly after a breakup. I don't expect people to keep their lost love memorabilia forever, but can't you at least wait a few months? And whoever bought it got quite the deal! I love getting things at half price!