[Grimmlok]

BANG) - Paris Hilton has reportedly auctioned off her US$4.7million engagement ring from ex-fiancé Paris Latsis.
The hotel heiress sold the stunning diamond band to raise money for victims of Hurricane Katrina, according to a report in Britain's Daily Star newspaper.

The winning bidder is said to have bought the ring for less than half of what Latsis paid.

Hilton called time on her romance with the shipping heir earlier this month claiming she wasn't ready for marriage.

The 24-year-old said: "I'm sad to announce that I've called off my engagement. Over the last couple of months I've realised that this is the right decision for me."

The blonde socialite - who got engaged to Latsis just five months ago after a whirlwind courtship - added: "I feel I'm just not ready for marriage. I have seen the break ups between people who love each other and rush into getting married too quickly - and I do not want to make that mistake."

The Canadian Press BANG Media International