What a rock! Demi Lovato announced her engagement to boyfriend Max Ehrich on Wednesday, July 22 — and her incredible ring has our jaws on the floor. Life & Style reached out to an expert to get details on how much the gorgeous diamond is worth.

“Demi’s showstopping engagement ring features what appears to be an estimated 8-10 carat emerald cut diamond set on a platinum or white gold band,” Kathryn Money, Brilliant Earth‘s SVP of Merchandising & Retail Expansion tells Life & Style. “The center diamond is framed by beautiful trapezoid shaped accent diamonds estimated at ¾ carats each, for a total carat weight of the ring of 9.5-11.5 carats.”

Because of these factors, the ring is estimated to be worth between $450,000 and $850,000.

demi-lovato-engagement-ring-size-price
Courtesy of Demi Lovato/Instagram

According to the ring expert, emerald cut engagement rings have been surging in popularity lately. In fact, the shape has been worn by happily engaged celeb babes like Jennifer Lopez, Nikki Bella and Jennifer Lawrence.

“Many opt for elongated diamonds – including emeralds, elongated cushions and ovals – as their shape offers a flattering look, lengthening the wearer’s finger,” Kathryn explained further. “As we see delicate settings trending, the thicker band gives Demi’s ring a traditional, timeless touch.” Seems like it was a good choice, Max!

Demi, 27, and Max, 29, revealed they were taking their relationship to the next level on Instagram on July 22. “When I was a little girl, my birth dad always called me his ‘little partner’ – something that might’ve sounded strange without his southern cowboy-like accent. To me, it made perfect sense,” she wrote. “And today that word makes perfect sense again, but today I’m officially going to be someone else’s partner.”

Demi Lovato Engagement Ring Price and Size
Courtesy Demi Lovato/Instagram (2)

She then turned her attention to her soon-to-be husband. “I knew I loved you the moment I met you. It was something I can’t describe to anyone who hasn’t experienced it firsthand, but, luckily, you did, too. I’ve never felt so unconditionally loved by someone in my life (other than my parents), flaws and all,” she gushed in her post. “You never pressure me to be anything other than myself. And you make me want to be the best version of myself. I’m honored to accept your hand in marriage. I love you more than a caption could express, but I’m ecstatic to start a family and life with you. I love you forever, my baby. My partner. Here’s to our future!!!!”

The happy couple started sparking romance rumors in March after leaving flirty comments on each other’s Instagram posts. They went public with their relationship in Justin Bieber and Ariana Grande‘s “Stuck With U” music video, where they danced and shared a kiss on-screen.