Barack Obama to buy rare £20,000 rhodium ring for his wife to say 'thanks for your support'
By Mail Foreign Service
Last updated at 11:58 AM on 02nd December 2008
Michelle Obama is to receive this £20,000 thank you from her husband for her support during the election.
The Harmony ring is made of rhodium - the world's most expensive metal --and encrusted with diamonds. It is being hastily made by Italian designer Giovanni Bosco in time for January's inauguration ceremony.
Only about 25 tons of rhodium are mined each year, mostly in South Africa, and as a result its price is typically around £5,000 an ounce.
Diamond encrusted thanks: Barack Obama will buy his wife this £20,000 ring made of black gold or rhodium
Bosco is based at Valenza Po near Alessandria. The top designer counts a select list of VIPS's and celebrities as his clients.
Rhodium typically sells for around £5000 an ounce.
It is a very select precious metal. Because of its value and association with wealth, rhodium was chosen as the material for the disc presented to Beatle Paul McCartney for being history's all-time best-selling songwriter and recording artist.
Several luxury items such as the world's 'Most Expensive Pen' or 'Most Expensive Board Game' also contain rhodium while the Crown Jewels worn by the Queen are also rhodium plated.
A spokesman at Giovanni Bosco said: 'Our American distributor has contacted us and has asked us to provide details on the Harmony ring.
'It is our top of the range piece and made from rhodium and encrusted with diamonds.
'Our agent in the United States was asked by Mr Barack Obama about the ring because he wants it as a thank you gift for his wife Michelle for her support the last two years.
'We have a select number of clients both in the United States, Europe, Russia and the Middle East and our prices as a result reflect the wealth of our customers.
'For obvious privacy reasons I cannot reveal the cost of the ring but bearing in mind it is made from rhodium or black gold and encrusted with diamonds you can be sure it will cost thousands of pounds.'
http://tinyurl.com/6z329y
Gotta spend those millions of donations somewhere.
By Mail Foreign Service
Last updated at 11:58 AM on 02nd December 2008
Michelle Obama is to receive this £20,000 thank you from her husband for her support during the election.
The Harmony ring is made of rhodium - the world's most expensive metal --and encrusted with diamonds. It is being hastily made by Italian designer Giovanni Bosco in time for January's inauguration ceremony.
Only about 25 tons of rhodium are mined each year, mostly in South Africa, and as a result its price is typically around £5,000 an ounce.
Diamond encrusted thanks: Barack Obama will buy his wife this £20,000 ring made of black gold or rhodium
Bosco is based at Valenza Po near Alessandria. The top designer counts a select list of VIPS's and celebrities as his clients.
Rhodium typically sells for around £5000 an ounce.
It is a very select precious metal. Because of its value and association with wealth, rhodium was chosen as the material for the disc presented to Beatle Paul McCartney for being history's all-time best-selling songwriter and recording artist.
Several luxury items such as the world's 'Most Expensive Pen' or 'Most Expensive Board Game' also contain rhodium while the Crown Jewels worn by the Queen are also rhodium plated.
A spokesman at Giovanni Bosco said: 'Our American distributor has contacted us and has asked us to provide details on the Harmony ring.
'It is our top of the range piece and made from rhodium and encrusted with diamonds.
'Our agent in the United States was asked by Mr Barack Obama about the ring because he wants it as a thank you gift for his wife Michelle for her support the last two years.
'We have a select number of clients both in the United States, Europe, Russia and the Middle East and our prices as a result reflect the wealth of our customers.
'For obvious privacy reasons I cannot reveal the cost of the ring but bearing in mind it is made from rhodium or black gold and encrusted with diamonds you can be sure it will cost thousands of pounds.'
http://tinyurl.com/6z329y
Gotta spend those millions of donations somewhere.
