Bentwood rings will have a seam in two places - on the inside and outside of the ring.
However, we strive to mask this seam as much as possible for a continuous look.
Each end is cut in an organic way, so that the seams are never running straight across (which would make them very noticeable). The smoothing process further diminishes the seams noticeability by "blending" them into the adjoining surface.
Have a look at the example tapered French Walnut ring to the right...
The outside seam is certainly there, but the ring will have to be examined closely to find it.
Here are a few examples where the seam is a little more evident: