Fraudster Melissa Caddick’s engagement ring is spotted on sale in a small antiques shop for 10 times the price it sold at auction

Notorious fraudster Melissa Caddick’s custom-made diamond engagement ring has turned up in a small antique shop with a price tag of a whopping $70,000.

The diamond solitaire ring, custom made by Sydney-based jeweler Stefano Canturi for her engagement to hairdresser and DJ Anthony Koletti, is in the stock of the Jewelery Library in the village of Blackheath in the Blue Mountains west of Sydney.

Caddick, 49, disappeared on November 12, 2020 after taking $30 million from investors, including family and friends, while working as a financial advisor.

Caddick’s extensive collection of designer jewelry, artwork and dresses was auctioned off in 2022 as part of efforts to repay her victims, with the items fetching more than $800,000.

The engagement ring, worth $39,200 new, was expected to fetch between $7,000 and $10,000 at auction, but sold at the low end of that estimate, fetching a modest $7,000.

The piece features a large rare white diamond of 1.83 carats surrounded by side diamonds weighing a total of 1.2 carats and two brilliant-cut black sapphires weighing 0.04 carats.

Conwoman Melissa Caddick wears an iconic Oscar De La Renta ball gown and Canturi necklace at a social event with her husband Anthony Koletti

Jewelery Library has listed the item at an eye-watering $70,200, but has said it is willing to negotiate up to half that price with an interested buyer.

The company, based in the Victory Theater building, is undergoing a rebrand to Investment Jewelery after recently being bought out, although it is understood that any unsold shares, including the ring, will remain on sale for sale.

Johnathon James, owner of the Jewelery Library, told Daily Mail Australia on Saturday that the ring “certainly catches the attention of anyone who comes to visit”.

‘It was bought by a Sydney lawyer who is good friends with the Packer family and who has bought many of her things that have been put up for auction.

‘His wife didn’t want it and he gave the ring to us to help sell it.

‘The price is expensive, but because of its fame and provenance we wanted to take advantage of it, although we would be willing to negotiate and reduce the price significantly if there was a real buyer.’

The ring was given to Blackheath antique shop Jewelery Library (pictured) by a Sydney lawyer who wanted help selling it after his wife said she didn’t want it.

Caddick’s case captured the attention of the Australian public, fascinated by the mystery surrounding what happened to her. She has not been seen since her disappearance in November 2020.

Police believe she committed suicide by jumping from cliffs near her mansion in Sydney’s Dover Heights, shortly after officers from the Australian Securities and Investments Commission raided her home.

After Caddick’s foot washed up on the NSW south coast, police declared the case closed.

But other theories persist, including that her foot was amputated and money was stashed away to flee to rural NSW or abroad.

When ASIC investigators raided Caddick’s property, they found an astonishing collection of diamond and sapphire rings (above). The engagement ring is not pictured

Caddick’s Dover Heights home (pictured) sold at auction for an undisclosed price but was expected to fetch more than $10 million

An LV Flame Twist MM Bag from Caddick that sold at auction for $4,909

“Many people who visit the store comment on why she wasn’t wearing the ring when she disappeared,” James said.

“The whole story is controversial, but if she had indeed run away and disappeared and not gone down, wouldn’t she have taken the ring?

‘It is very valuable and also has sentimental value. I guess it would be one of the few things she would take with her.”