Jennifer Lopez‘s love may not cost a thing, but her engagement ring from Alex Rodriguez boasts a hefty price tag.
The couple, who announced their engagement over the weekend, confirmed the exciting news on Instagram with a shot of Lopez’s dazzling ring, which jewelry experts estimate is worth over $1 million.
“A fitting ring for these two superstars — we’d estimate this to be an approximately 15-carat emerald cut stone, set simply with a beautiful solitaire setting,” the experts at JamesAllen.com told Page Six Style.
“In the case of a stone this large and this high in quality, a simple setting is exactly what’s needed to allow the diamond to shine,” they continued. “We would value Jennifer Lopez’s ring at over $1M.”
The experts also noted how emerald cut stones have become trendier in recent years.
“Emerald cut diamonds became popular back in the 1920s, a time when clean lines and art deco styles were in fashion,” the experts explained. “However we’ve recently seen a returned interest in this shape, with celebrities such as Amal Clooney and Beyoncé sporting the stone.”
Ben Affleck famously gave ex Lopez a 6.1-carat pink diamond engagement ring back in 2002, reported to be worth $1.2 million.
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