Updated October 17, 2018: Lady Gaga finally confirmed her engagement to Christian Carino on Monday night while giving a powerful speech at Elle's 25th annual Women in Hollywood Celebration. Gaga's rumored engagement ring has been spotted before on various red carpets, but after she referred to Carino as "my fiancé" in her speech, it's clear the stunning diamond is, in fact, an engagement ring.
The jewelry in question features a silver band with a large, round pink diamond surrounded by smaller jewels. E! News checked in with Andrew Brown, president of WP Diamonds, to learn more about the striking piece. He estimates the ring is likely a six- or seven-carat pink sapphire with a diamond halo totaling three to four carats, and suggests that it might be a Padparadscha sapphire, which could retail anywhere between $300,000 and $400,000.