I know that this ring was beautiful back in the day. I have imagined many stone color combinations but someone got grandma's ring and had their style made with her stones. Now this art deco style is popular again. I don't know if this can be saved but I know it could be. I just don't know if repairing the shank and replacing the stones is feasible. I do know that the filigree work is gorgeous and you can barely see it because the ring needs professional cleaning.
The ring is not marked but it has tested as 14k with an acid test. I wondered if it might be platinum but it failed the 18k test so I think it is 14k. I am offering this 3.4 gram ring as scrap. It does have 8 small blue sapphires. Currently the ring is a size 7 but if you can do the required work you can probably resize as well.