looks more flat than hammered...the hammering is subtle. beautiful craftsmanship.
Stone looks faceted, and with more color variety in the photo, it is not. A deep blue cabochon is more like it.
That being said, it is quite pretty and fits perfectly!
I purchased this ring many years ago and have since passed it along to a friend who admired it. The stone and setting are so pretty; a very well-crafted piece.