Ajay Anand, the CEO and founder of diamond retailer Rare Carat, told Business Insider that the jewelry's value is likely somewhere in the $1 million range. "The ring appears to feature an antique old mine brilliant-cut diamond," Anand said, noting that the style was popular in the 18th and 19th centuries due to its "chunky facets and romantic sparkle." Rolling Stone reported that Kindred Lubeck of Artifex Fine Jewelry designed the piece.