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    'Bingle engagement ring not worth $200'

    Michael Clarke reportedly paid 200,000 dollars for the engagement ring.

    Melbourne: It has emerged that Australian model Lara Bingle's engagement ring is not worth the 200,000 dollars cricketer Michael Clarke reportedly paid for it.

    The devaluation in price of the ring was revealed by jewellery valuer Roy Cohen, CEO of The Gold Company and the Diamond Certification Laboratory of Australia, reports the Daily Telegraph.

    According to Cohen, the 4.7-carat pearl-shaped sparkler is worth only 50,000 dollars, but does acknowledge its notoriety has an unknown worth.

    He also would not comment on rumours whether the sparkler had been flushed down the loo had hurt the price.