Hugh Hefner and his ex-fiancee Crystal Harris
Hugh Hefner and his fiancee, Playboy Playmate Crystal Harris, arrive at the opening night gala of the 2011 TCM Classic Film Festival featuring a screening of a restoration of 'An American In Paris' in Hollywood, California April 28, 2011. REUTERS/Fred Prouser

American model and Playboy Playmate Crystal Harris is auctioning the engagement ring that Hugh Hefner gave her when the Playboy founder proposed marriage to her.

In case you're wondering, we are talking about the same ring that just less than a year ago, Harris was talking to the media about. Back then, she gave an extensive account of how Hefner, 40 years older than her, proposed, on Christmas night in 2010.

We were up in the bedroom and my favorite movie is The Little Mermaid, so he had the ring in a Little Mermaid box, and that was so special. I opened it and the first thing he said to me was, 'I hope it fits!' she told People magazine in an interview.

Harris, a former Playmate reportedly cried with happiness on the day of proposal. Nevertheless, she played the part of a runaway bride, five days prior to the wedding day.

I got cold feet. Over time I just realized it wasn't for me, it was all happening so fast. I love Hef. I care about Hef and always will. We had good times together... I've been over there about three or four times since the breakup and we want to just stay friends, the 25-year-old said, in an interview with Access Hollywood.

As for Hefner, it took him less than two weeks to announce his new girlfriend, Playmate, Shera Bechard.

The ring is a little over three karats and it's on platinum setting and it has diamonds all around the band as well. It's so pretty, an excited Harris explained, back in 2010.

Fast forward today and Harris is reportedly auctioning off the 3.39 carat engagement ring, after she was spotted earlier this year at a La Jolla pawn shop. Reports in Mission Valley News suggest that Harris will feature the sparkler at Christie's in New York.

[She] couldn't bear to look at the ring anymore because it brought back bad memories, an Access Hollywood report says.

The ring cost Hefner a whopping $90,000. But then, it is expected to fetch only less than half its original price, which is somewhere between $20,000 and $30,000.