Ira Weissman, founder of The Diamond Pro, explained, “This approximately 20 carat emerald cut diamond is exquisitely cut and of superb quality. When you have an extremely rare and timelessly breathtaking stone such as this one, the goal of the ring should be to show off the rock naturally with as little embellishment as possible – the perfect compliment to the ageless enduring beauty of J.Lo. The ring is worth approximately $5 million dollars.”

But Ira Weissman, the founder of the consumer education website Truth About Diamonds, says that couples today are more reluctant to spend that kind of money on an engagement ring.

“This generation, more than any in the past, knows what De Beers is all about, so to have them tell you that you need to spend two months’ salary to buy one is crazy,” he said.

Mr. Weissman, a former diamond salesman, answers thousands of reader emails and has seen a 50 percent increase in questions related to hand-me-down gems.

“Our team of diamond experts trained Ringo by having the tool review photographs of tens of thousands of diamonds,” said Ira Weissman, founder of the Diamond Pro. “Now shoppers know they can rely on unbiased, sophisticated AI to bring them the best options available.”

“There is no way for anyone to put a value on the whole ring,” Michael Fried, the CEO of Diamond Pro, a company that helps find quality and affordable diamonds, said in an email. “Having diamonds from the royal collection that Princess Diana wore makes the ring priceless.”

And to Mike Fried, the CEO of Diamond Pro, a company that helps people find the best diamonds for their money, the ring could be worth more than double that. Freed estimated it has a 5-carat diamond and is worth $150,000 — or “exponentially” more, depending on what brand and what level of quality Jonas chose for the ring.

That, according to diamond expert and founder of The Diamond Pro Ira Weissman, is where Tiffany & Co. could potentially break genuinely new ground. “What makes Tiffany different is that they’re one of the very few companies — they might be the only one, now that I think about it — that is in control of their entire supply chain,” Weissman tells Fashionista.

To make sense of the evidence we had gathered, we sought out another diamond expert, Michael Fried. Fried is an industry veteran, and current researcher that performs his own independent investigations of companies like Brilliant Earth.

“The engagement ring is set with an approximately 1 carat diamond in a recessed halo setting,” Ira Weissman, founder of The Diamond Pro, told E! News. “All together, a set like this would retail for under $20,000.” The set, he added, “has an understated elegance that honors their blue collar roots while maintaining a level of sophistication we all strive for.”