The world-famous engagement ring, a stunning 12-carat oval Ceylon sapphire framed by 14 solitaire diamonds set in 18-karat white gold, has captivated the public for decades. First placed on the finger of Lady Diana Spencer in 1981, it has found a new life with Catherine, Princess of Wales. However, it’s not just its beauty and history that are turning heads, but its jaw-dropping increase in monetary value. According to jewelry experts, the ring’s worth has surged by an incredible 1,150 percent since its original purchase.
When then-Prince Charles proposed to Diana, she selected the ring herself from the jeweler Garrard’s existing catalog. This was an unconventional choice, as royal engagement rings were typically bespoke creations. The ring cost £28,000 at the time (equivalent to over £100,000 today, adjusting for inflation alone). While some courtiers were reportedly displeased that a commoner could purchase the same ring, Diana’s choice turned it into an instant icon. Today, experts estimate its market value has skyrocketed to approximately £350,000, a testament to its unparalleled provenance and cultural significance.
The ring’s legacy was cemented when Prince William used it to propose to Kate Middleton in 2010. He explained the deeply personal reason for choosing his mother’s ring, stating, “It’s very special to me. It was my way of making sure my mother didn’t miss out on today.” This act infused the piece with a new layer of profound sentimental value, bridging the past with the future of the monarchy.
The Garrard ring is no longer just a piece of high-end jewelry; it is a tangible piece of history. Its journey from a catalog item to a symbol of enduring love, legacy, and loss has made it arguably the most famous engagement ring in the world. Its astronomical rise in value reflects not only the quality of its materials but its extraordinary story, forever linked to two of the most beloved figures in modern royal history. This “extraordinary” piece, as one expert called it, continues to be a symbol of a legacy that only grows more precious with time.