NANTUCKET, MASS. — The 28-carat natural, non-heated, Ceylon pink sapphire ring saw a blistering bidding battle at Rafael Osona’s August 6 auction as the ring attained $240,000, selling to an in-house bidder.

The ring was the expected standout piece among jewelry from the estate of the late Jane Starke Boyd, which was sold to benefit college scholarships for community students interested in pursuing careers in health care. Funds raised will be managed and distributed by the Jane Starke Boyd Charitable Foundation in Phoenix, Ariz.

A complete review on the auction will appear in an upcoming edition.