The effect: a ring is borrowed, and a spectator puts it on a bolt, the screws on the nut, which is then locked in place (since there is a hole through the end of the bolt for this purpose). Under cover of a handkerchief, or under the table for a moment, and the ring is free.
Or maybe you perform it the way I prefer, where the ring is wrapped in a piece of paper, and given to a spectator to hold. A few moments later, the paper is opened to reveal a set of small keys. Remove the bolt, nut and lock from your pocket, all put together, but the ring is on the bolt. The keys unlock the lock, and then it takes the spectator a while to unthread the nut, and release the ring.
High quality brass machining makes the effect possible, and relatively easy, though you will need some practice to get it down smoothly. Everything can be examined before and after.
A nicely made item from Sam Dalal's company in India. Brand new with instructions
NOTE: the wedding ring in the photo is not included. My wife would not like that!