Opulent rings like this used to be seen as “cocktail rings,” the kind of jewellery you wore only for big events or dressy nights out, usually with a cigarette holder in one hand and a drink in the other.
I think it’s great that jewellery “rules” like this have pretty much fallen by the wayside, and you could conceivably wear this whenever you pleased. It’s a vintage Fred Leighton piece, made with platinum, diamonds and sapphires. Offered by Net-A-Porter, they note, “This retro 1940s-era cocktail ring is made with 8.00-carats of stunning sapphiresand 0.35 carats of diamonds in a platinum setting. Wear it as your sole accessory against evening wear.”
A size 7, (darn, that’s my ring finger size!) it sells for USD $9,500.