Selena Gomez's Diamond Engagement Ring Is One of the Most "Rare" Cuts, Valued at an Eye-Watering Sum

Selena Gomez might have teased her engagement manicure at the Chanel Academy Women's Luncheon on Dec. 11, but she saved the engagement ring itself for a dazzling Instagram debut hours later. The singer revealed she and producer Benny Blanco are engaged with a close-up shot of her new jewelry set on a pale pink backdrop. Not that she needed to zoom in, because the diamond is objectively huge.

As the Emilia Pérez star shared the news with family and friends, clad in her favorite Banana Republic jeans and a fur coat, onlookers quickly caught on to the ring's touching backstory. Gomez is wearing a marquise cut diamond, a style that Ann Grimmett, VP of Merchandising at Jared Jewelers, estimates makes up only 5 percent of all diamonds sold today. It's a shape that originated in eighteenth century France, when King Louis XV requested a diamond cut into the shape of his lover's lips, the Marquise de Pompadour. Its rarity has made marquise diamonds a top choice for celebrity engagement rings centuries later, from Jennifer Lopez and Ben Affleck's first go-round to David Beckham and Posh Spice. More importantly, the cut is just "Rare" enough to have gotten a shout-out in Gomez's 2015 song "Good for You."

Selena Gomez refers to herself as a "marquise diamond that could make Tiffany jealous" in the track. She also calls herself "14-carat" quality in the opening verse. While Benny Blanco didn't produce the song, he must have given it a few listens before ring shopping almost a decade later.

The jeweler behind Gomez's ring hasn't stepped forward to confirm its value quite yet. Diamond experts got a good enough look to appraise it from afar. "Considering the large center in an eternity setting, we estimate this to be about 6 carats and the value would be around $225,000," Grimmet, from Jared, said in a press release. Meanwhile, jewelry expert Laura Taylor of Lorel Diamonds placed the valuation even higher in an interview with the Daily Mail, at a jaw-dropping $1 million.

While marquise diamonds aren't nearly as common as oval or cushion cut, Selena Gomez's engagement ring is sure to set off a fresh trend for brides-to-be. They're regal, but not overpowering—meaning they can translate to any bridal aesthetic. "Traditionally associated with royalty, marquise diamonds feature elegant, pointed ends that create the illusion of a larger stone," Jillian Sassone of Marrow Fine jewelry said. "They’re also incredibly versatile—whether set north-south or east-west, marquise diamonds look stunning in both prong and bezel settings."

Now that we're all familiar with Selena Gomez's engagement ring, it's time to fantasize about her eventual wedding day. Any guesses for the dress style she'll wear?