Meghan Markle gave the world their first look at her stunning engagement ring from new fiancé Prince Harry shortly after announcing their engagement on November 27, and now experts are weighing in on how much the royal may have paid for the gorgeous piece of jewelry.
As previously reported by Inquisitr, the ring features three white diamonds. One center stone from Botswana where Harry and Meghan recently vacationed, as well as two smaller diamonds on either side which were taken from the collection of Harry's mom, the late Princess Diana. The diamonds are then set on a yellow gold band.
While the royals haven't spoken out regarding just how much the stunning piece of jewelry – which was designed especially for Markle by Harry - actually cost, TIME spoke to a number of diamond experts this week who speculated on exactly how much Meghan's ring could really be worth and how much a similar ring would cost.
Amanda Winters of diamond retailer Blue Nile estimated that a ring similar to Markle's could retail at between $300,000 to $350,000 if it were made of diamonds of the highest quality like the new royal's, or it could go for around a 10th of the price at $35,000 to $40,000 if the diamonds were of a poorer quality.
"A three-carat diamond like that should cost around $200,000," Michael Fried, the CEO of Diamond Pro, then added of how much an engagement ring like Meghan's could be worth, "through the diamond qualities us non-Royal folk usually go with would allow us to get a similar sized diamond for about $80,000."
However, Fried was quick to note that the engagement ring Harry presented to Meghan earlier this month is actually priceless because of its social significance and due to the fact that it features diamonds that belonged to the late Princess Diana.
"There is no way for anyone to put a value on the whole ring," he confirmed of Markle's rock. "Having diamonds [from] the royal collection that Princess Diana wore makes the ring priceless."
Kathryn Money, vice president of strategy and merchandising at Brilliant Earth, also noted that the ring is "truly priceless" and noted from photos that it could be around 6.5 carats in total, 5 carats of which are formed by the stunning center diamond.
Though the true cost of Markle's engagement ring may never be known, Harry revealed the sentiment behind designing the stunning piece of jewelry for the Suits actress in an interview with BBC where he explained that he wanted it to be yellow gold because that's Meghan's favorite metal.
"The ring is obviously yellow gold because that's her favorite," Harry explained, per Express. "The main stone itself I sourced from Botswana."The prince then revealed that he wanted his late mother, who passed away 20 years ago this year, to be a part of the celebration, which is why he used diamonds from her personal collection of jewels to give to Meghan. "The little diamonds either side are from my mother's jewelry collection to make sure that she's with us on this - on this crazy journey together."
Meghan then added during their first interview as a couple just hours after confirming their engagement that she thought the engagement ring was "beautiful" and "incredible."
[Featured Image by Chris Jackson/Getty Images]