Jennifer Lopez and Alex Rodriguez are known for their grand red-carpet appearances, and now it looks like they'll be tying the knot in their signature extravagant style.
On Saturday, Rodriguez and Lopez celebrated their engagement by sharing a photo of the ring on Instagram. The photo shows Lopez and Rodriguez holding hands with her eye-catching ring on full display.
According to gem experts, Lopez's ring is estimated to have come with an impressive price tag between $1 million and $4.5 million.
On the lower end of the estimates, the experts at JamesAllen.com told INSIDER that they estimate the value of Lopez's ring to be over $1 million. It features an approximately 15-carat emerald-cut stone with a solitaire setting, which is becoming an increasingly popular choice.
"Emerald cut diamonds became popular back in the 1920s, a time when clean lines and art deco styles were in fashion," the experts at JamesAllen.com said in a statement provided to INSIDER. "However we've recently seen a returned interest in this shape, with celebrities such as Amal Clooney and Beyoncé sporting the stone."
The team of gemologists at Rare Carat estimate an even larger value. The team estimates that the ring features an exceptionally rare D-Flawless diamond, which is sought after for its perfectly colorless appearance.
In a statement provided to INSIDER, the team estimates that the ring is 20 carats and could be worth around $4.5 million.
The ring has one of the highest estimated values of recent celebrity engagement rings. Priyanka Chopra's ring from Nick Jonas was estimated at around $300,000, while Hailey Baldwin's ring from Justin Bieber was estimated to be around $600,000.
Read more: 4 types of engagement rings that will be in fashion for 2019
