The ring fetched just $16,000 at auction.

The ring fetched just $16,000 at auction.

A diamond ring swallowed by an alleged jewellery store robber has sold at auction for just over half its retail replacement value.

The 1.53-carat diamond ring sold at auction on to a mother of four from Perth for $16,000 on Monday night, well short of its $27,000 worth.

The ring was one of two diamond rings eaten by an alleged robber David Watts at a jewellery store in Indooroopilly Shopping Centre last month.

It was recovered after a colonoscopy.

After the incident on Friday, November 29 police waited days for the Mr Watts to pass the two rings, but only the less expensive diamond ring could be recovered.

The other ring, worth $35,000, was lost by police after they threw out a bag of waste without searching it while the suspect was in custody.

The platinum ring has a cushion-cut yellow diamond surrounded by white diamonds.

The money raised for the sale of the ring is going to the Leukaemia Foundation.

Gray’s Auction House spokesman Mark Keogh says bidding was frantic, with thousands looking and 14 people bidding for the ring.

The Perth mother thought the ring was good value and she was delighted for the charity to have benefited because her child was in remission from cancer, he said.

David Watts has been charged over the theft.