Upper Hutt man Kelvin Acutt is making the most of a bad situation, auctioning a $6299 engagement ring for a $1 reserve in the hopes of replacing love with a new ute.

The one-carat diamond ring was intended for his girlfriend of two years, who unceremoniously broke up with him two weeks after he had purchased the engagement ring at "a price that was steeper than the side of a chicken's face".

The 22-year-old posted on auction site Trade Me saying that having "a ring without a pretty finger to put it on" meant it was time to sell and he was hoping someone would purchase the brand new white gold ring for a pretty penny.

MONIQUE FORD/ Fairfax NZ He plans to put the money he raises towards buying his mate's ute.

"I took it to a pawn shop who would only give me 10 per cent of what it was worth so thought better to bite the bullet and put it on Trade Me," said Acutt.

READ MORE:

* Former All Black Piri Weepu selling classic 1967 Ford Galaxie on Trade Me

* Woman puts 1944 yacht for sale on $1 reserve

​* Couple's $48,000 debt listed on TradeMe

* Trade Me seller tries to claim $5000 for $1 auction with 'cheeky piece of e-commerce'

"I'm not sure what I want it to go for but I'm stuck with selling it anyway so we'll see."

SUPPLIED Kelvin Acutt is selling an engagement ring on Trade Me for a $1 reserve after his intended fiancee dumped him.

While the ring had a starting price and reserve of just $1, bidding had already surpassed $1000 with five days left on the auction.

However, Acutt said he wanted to sell the ring for a good price so he could buy a ute and "do cool stuff in it like hunting and burnouts."

"I know I can trust the ute to love me unconditionally."

TRADEME While the $6000 diamond ring had a reserve price of $1, the auction had already surpassed the $1000 mark with days to go.

The break up happened after he had returned from a four-month Army training stint, with his then-girlfriend unaware he had planned to propose.

Despite the failed relationship, Acutt said he had no hard feeling towards his ex but was ready to move on.

"I'm not selling it out of malice or trying to get back at her, I just want to make some money back on it."

SUPPLIED Acutt said his friends have been helping share the auction page on social media to drum up more interest with some going so far as to offer to marry him instead.

He said the auction had so far been a good way to get over the break up while having a laugh with his friends.

"Me and the boys are always having a bit of banter and we thought we would share some laughs on the post and get some views," Acutt said.

"It's been an ongoing piece of entertainment for us all."

Despite the failed proposal, it appears Acutt hasn't completely given up on love, offering an alternative offer for the ring.

"If you think yourself an attractive woman who loves the outdoors and your finger will fit the required measurements. Hit us up," the listing stated.

The auction runs until February 1.