On July 25, Sotheby's hosted its third dedicated Hip Hop auction, achieving a total of $1.8 million. The crown jewel of the auction was a beautiful gold crown ring studded with diamonds and rubies that sold to Drake for $1 million, three times its high estimate of $300,000. What's interesting about the ring is its provenance: it was commissioned by Hip Hop legend Tupac Shakur in 1996, which also was the year of his death.
During his lifetime, Tupac was considered one of the world's greatest rappers, and ever since his death, people have marked him as the number one rapper of all time. He's widely seen as a style icon with his characteristic colorful bandanas and jewelry, such as diamond-studded earrings, necklaces, and rings.
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The ring that Sotheby's just offered at auction was the most impressive ring that Tupac ever had in his collection. It was commissioned in 1996, meaning he could only enjoy it for a couple of months before he was shot dead on September 7 in Las Vegas.
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"Pac & Dada 1996" is engraved on the outer lower part of the ring. "Dada" is referring to Kidada Jones, to whom he was recently engaged. Notably, Kidada Jones is the daughter of the highly acclaimed music producer Quincy Jones. Besides the inscription, the ring is studded with a 5-carat diamond, as well as seven beautiful ruby stones.
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As with all music memorabilia, the market is increasing yearly. With this sale of the most expensive Hip Hop artifact, the future for that market gets even stronger. And the fact that this ring, once owned by Hip Hop royalty Tupac Shakur, was purchased by current superstar Drake increases its value even more.