Two years after their high-profile split, Mariah Carey has reportedly hocked the 35-carat, $13.2 million engagement ring given to her by her ex-fiance James Packer.

According to Page Six, the Hero singer, 48, had one of her business managers sell the rock that the Australian billionaire, 50, proposed with for a fraction of the cost – an estimated $2.7 million.

It's been said it was bought by an unnamed jeweller, who as part of the arrangement was required to sign a confidentiality agreement.

"Mariah has been very vocal recently about her choice to move forward in her life surrounded by positivity," her publicist told the tabloid.

"That requires leaving emotional and material baggage behind, including an old engagement ring from an ex-boyfriend."