Elton John's "J" Brooch For Sale

A sapphire-and-diamond brooch worn by singer Elton John in one of his music videos will go under the gavel this week.

The art deco piece is shaped like a "J" and was worn by John in the 1988 music video "I Don't Wanna Go on With You Like That."

It is expected to fetch $22,000 when it goes up for sale at Bonhams auction house in London on Thursday.

The 1930s-era brooch has brilliant-cut and baguette-cut diamonds and oval-cut and circular-cut sapphires.

Despite the growing global financial crisis, the auction house struck a confident note about the sale of the brooch and other jewelry items.

"Diamonds have an enduring appeal," Jean Ghika, Bonhams' UK director of jewelry, said Tuesday. "They provide timeless elegance in a fast-moving fashion arena and in many instances maintain their worth."

An 11-carat emerald-cut diamond ring by De Beers that auctioneers say could go for as much as $593,000 is among the other items being sold.