Michelle Obama to receive $30,000 thank you from the President-Elect
Filed under: Jewelry
She loves her inexpensive outfits from the mall, but Michelle Obama will soon be sporting something much fancier than anything you'll find at J. Crew.A spokesman for top Italian designer Giovanni Bosco has confirmed that President-Elect Barack Obama is looking to purchase a $30,000 Harmony ring made of rhodium and encrusted with diamonds as a thank you gift to his wife Michelle. We expect the future First Lady to receive the ring in time for her husband's January inauguration ceremony. The gift is a thank you for her support throughout the last two years of campaigning.
One of the world's rarest and most precious metals, only about 25 tons of rhodium are mined each year, setting the price at over $7,660 per ounce -- or about ten times the cost of gold. The ring may be uncharacteristically extravagant for Mrs. Obama, but we're sure she'll find a way to wear it with all her usual grace and confidence.
UPDATE: Apparently, the veracity of the story is in limbo. Obama's team is flatly denying the existence of the gift, and the purported jeweler has clammed up, refusing to comment at all. Is this just an attempt to paint the soon-to-be First Couple as out-of-touch with the "common American"? Or is it just a silly rumor?
