And that's a problem, because Chane Behanan is still in college.
Louisville lost in the 2012 semifinals to eventual champs Kentucky, and received their rings the next fall. At the time, Cardinals forward Behanan said "We're really hungry to go out and win a bigger one." They won it all in 2013, so Behanan apparently has no use for a participation award.
As first noticed by Fox Sports Ohio, the ring purporting to be his is up for bidding at Grey Flannel Auctions. It features his last name on the side panel, and his full name engraved on the inside. The minimum bid is currently $605. The description doesn't say where the ring came from, and that very much matters to the NCAA—selling any memorabilia while still in school would be a violation.
[Update, 10:32 a.m.: The ring has been withdrawn from auction. The auction house claims Behanan's mother contacted them to tell them the ring had been stolen.]
Behanan could say he gifted the ring to a friend or relative, and that person sold the ring without his knowledge. (A similar defense worked for Cam Newton, though the NCAA attempted to close at least part of that loophole.) But he shouldn't have to. It's his ring. He earned it, he owns it, and in no other job is one's property not theirs to do with as they want. To legislate otherwise is to declare that not even a player's accomplishments are their own.
That said, Chane, you dummy, you couldn't have waited just one more year?