Francesca Packer spends $500,000 on diamond ring – after splashing $16million on a luxury apartment

She’s the niece of billionaire businessman and casino baron James Packer. 

And now Francesca Packer-Barham, 25, has reportedly set a new record, spending more than half a million at a recent jewellery auction.

On Saturday, Private Sydney claimed the brunette beauty was the mystery bidder of a stunning diamond ring, which went under the hammer last week by auction house Leonard Joel.

Diamonds ARE a girl’s best friend! James Packer’s niece Francesca Packer-Barham, 25, has reportedly set a new auction record, spending $500,000 on a diamond ring

The brunette beauty, who counts PR queen Roxy Jacenko as one of her famous friends, reportedly dropped a cool $575,000 for the emerald cut diamond.

Her stunning sparkler weighs in at 17.34 carats and surrounded by a band with a pavé-set of brilliant-cut diamonds.

The publication reported that Francesca’s big spend on the ring broke the previous record spent on jewellery, which was $450,000. 

All that sparkles! Private Sydney claimed the brunette beauty was the mystery bidder of a stunning 17.34 carat diamond ring (pictured), which went under the hammer last week by auction house Leonard Joel. She reportedly dropped a cool $575,000 for the emerald cut diamond

All that sparkles! Private Sydney claimed the brunette beauty was the mystery bidder of a stunning 17.34 carat diamond ring (pictured), which went under the hammer last week by auction house Leonard Joel. She reportedly dropped a cool $575,000 for the emerald cut diamond

Famous friends: The Sydney socialite counts PR queen Roxy Jacenko (pictured) as one of her close pals

Famous friends: The Sydney socialite counts PR queen Roxy Jacenko (pictured) as one of her close pals

That record sale was of a beautiful 8.19 carat heart-shaped diamond necklace, back in 2011, according to the Sydney Morning Herald at the time. 

Francesca’s big investment is however not a sign of her engagement. 

The famously secretive socialite is rumoured to have been dating Sydney personal trainer Sam Zacharia, the son of famed plastic surgeon Michael Zacharia, since last year. 

'I promise you there is nothing to announce': Francesca's big investment is however not a sign of her engagement. The famously secretive socialite is rumoured to have been dating Sam Zacharia (pictured), the son of famed plastic surgeon Michael Zacharia, since last year

‘I promise you there is nothing to announce’: Francesca’s big investment is however not a sign of her engagement. The famously secretive socialite is rumoured to have been dating Sam Zacharia (pictured), the son of famed plastic surgeon Michael Zacharia, since last year

She told Private Sydney on Saturday: ‘We’re just good friends, in fact he is a very old friend of mine. I promise you there is nothing to announce.’

Francesca’s lavish splurge on the diamond ring comes after she purchased a $16million penthouse in Sydney’s Darlinghurst.

The apartment, designed by famed Australian-Austrian architect Harry Seidler, features five spacious bedrooms and five bathrooms. 

Another investment: Francesca's lavish splurge on the diamond ring comes after she purchased a $16million penthouse in Sydney's Darlinghurst (pictured)

Another investment: Francesca’s lavish splurge on the diamond ring comes after she purchased a $16million penthouse in Sydney’s Darlinghurst (pictured)

Touches of elegance: It boasts luxurious fittings, including Cote D'Azure marble and designer lighting

Touches of elegance: It boasts luxurious fittings, including Cote D’Azure marble and designer lighting

It boasts extravagant views of the harbour and luxurious fittings, including Cote D’Azure marble and designer lighting.

The selling point of the penthouse is undoubtedly its balcony, offering 360 degree views of Sydney Harbour.

In the past, Francesca, who studied at the Inchbald School of Design in London, spoke about following in her mother Gretel’s footsteps in interior design. 

Spacious: The stunning property in the heart of Sydney features five bedrooms and five bathrooms

Spacious: The stunning property in the heart of Sydney features five bedrooms and five bathrooms

Lookouts: The selling point of the penthouse is undoubtedly its balcony, offering 360 degree views of Sydney Harbour

Lookouts: The selling point of the penthouse is undoubtedly its balcony, offering 360 degree views of Sydney Harbour

‘Design is really fun. It is something I always had an ­interest in that has grown ­recently,’ she told The Daily Telegraph in 2017.

‘My mum used to do ­interior design with one of my godmothers (Adelaide Bragg), and between the two of them they used to have a design company together,’ she added, referring to their firm Barham and Bragg Design.

Francesca also credited her mother and grandmother Roslyn Packer for her work ethic.

‘They are amazing; it is not so much for me that they are strong, independent women, but strong, independent people,’ she said.

Just like mother: In the past, Francesca, who studied at the Inchbald School of Design in London, spoke about following in her mother Gretel's footsteps in interior design. She said in 2017: 'It is something I always had an ­interest in'

Just like mother: In the past, Francesca, who studied at the Inchbald School of Design in London, spoke about following in her mother Gretel’s footsteps in interior design. She said in 2017: ‘It is something I always had an ­interest in’