Michelle Obama is to receive this £20,000 thank you from her husband for her support during the election. The Harmony ring is made of rhodium - the world's most expensive metal --and encrusted with diamonds. It is being hastily made by Italian designer Giovanni Bosco in time for January's inauguration ceremony. Only about 25 tons of rhodium are mined each year, mostly in South Africa, and as a result its price is typically around £5,000 an ounce.

Our agent in the United States was asked by Mr Barack Obama about the ring because he wants it as a thank you gift for his wife Michelle for her support the last two years.