Australian man wins fight over bargain engagement ring
An Australian man has won his fight to keep an engagement ring he bought at a huge A$32,900 (£20,326) discount, due to an online pricing bungle.
Nicholas Buttle bought the two-carat diamond ring for A$1,100, the Daily Telegraph reported.
But then retailer Royal Diamonds Pty Ltd refused to deliver it, saying it was worth A$34,000. Mr Buttle took the dispute to a tribunal and won.
A director said the Sydney jewellery business would now have to close.
"We are going to make the ring and close the company," he told the newspaper.
The director said he could not understand how the NSW Civil and Administrative Tribunal (NCAT) ruled in favour of Mr Buttle given the typically high retail price for rings of that quality.
But the tribunal found there was an "absolute contract of sale made between the parties".
The decision means Royal Diamonds will have to deliver a ring of equal or higher value and pay all legal costs, including Mr Buttle's.
Mr Buttle and Royal Diamonds Pty Ltd did not immediately return requests for comment.