The $7,000 for the ring would equate to about $164,000 in 2025.
This was made at one of the many times when Universal Pictures Corporation was on the brink of bankruptcy. It was Universal's big Christmas release for 1936. It became a critical success and a box office sensation It led to a string of highly popular Deanna Durbin pictures that helped keep Universal in the black through the war years.
It was reportedly when viewing the rushes that the decision was made to increase Deanna Durbin's screen time in the picture.