Unless you've decided to spend the day sitting comfortably under a rock, you have probably heard by now that Kate Middleton's sister, Pippa, got engaged to James Matthews over the weekend and the couple plans to tie the knot next year.
Naturally, after the first photos of the happy bride-to-be emerged our eyes were fixated on her engagement ring—a stunning Art Deco-inspired Asscher-cut sparkler. And while no designer has officially claimed the honor of creating the gorgeous piece of jewelry, People did some investigating on their own to try to determine its price and how it compares to her sister's sapphire engagement ring that once belonged to Princess Diana.
"It is an Asscher-cut diamond, and in order to get a beautiful cut the diamond needs to be of top clarity," David Christopher Allen of 77 Diamonds told People of Pippa's ring. "If it is a flawless stone then it could be 200,000 (about $263,000)."
Elizabeth Galton, creative director at Mappin & Webb, told the mag that the Asscher cut diamonds are "step cut."
"This means there are fewer facets than other fancy shapes, such as a princess cut for instance," she explained, also reiterating the fact that the diamond has to have perfect clarity in order to show off its structure.
Until we find out more about it, one thing is sure—this is no ordinary engagement ring.