The world’s most expensive diamond ring is set to be replaced by Sharon Stone when her contract ends next year.

The Australian and New Zealand diamond ring, which was made in 2009 by the American jewellery company GIA, will be replaced with the rock’s original owner, the company’s CEO, Andrew Giese, said.

The ring, made in the likeness of Sharon Stone, is set for a limited edition of 500,000 rings, which are set to go on sale at a price of $10,000 each on Wednesday.

It will be sold at a $2,500 premium to the original ring, with Gieser saying it was only a matter of time before the price of a diamond rose above $20,000.

Giese said the ring’s price had been set at a time when many of the world’s wealthiest people were struggling to buy diamonds from independent diamond dealers.

“It was the right time to take advantage of that opportunity to get this ring out into the world and make it a diamond that everyone can afford,” he said.

“We are very fortunate that this opportunity to have a ring that we can use in the world of business and entertainment is now available for everyone.”

The ring is currently the highest-selling diamond ring in the US, with the GIA diamond ring selling for $19.5 million.

The company said the $20 million price tag was “a bit of a shock”.

“We have no idea where the diamond is coming from, or what it is worth, but the ring is certainly a very special piece of jewelry,” it said.

“It will only be sold by Giesen, the only independent diamond dealer in Australia, and will only cost a fraction of what it would cost to buy a GIA piece of jewellery.”

And the price is just $10K a piece.

I think that’s a bargain.

“Gieesen was founded in 1984 and is Australia’s oldest independent diamond trading company.

He said he was proud to see the ring become the world famous and iconic piece of art it was, and the price was the “sweetest”.”

There is no way that a diamond ring will ever go up in price until a few years down the track, but at this stage in time it’s very exciting and I think this will be the one of those things where it’s a little bit overpriced,” he told ABC Radio National.

In the US and other countries, jewellery makers were expected to increase their sales of diamonds to $200 billion in the next two decades, from $90 billion in 2009.