Jennifer Lopez announced that she’s engaged to Alex Rodriguez with an image of her giant sparkler on Instagram. Andrew Fox, president of superjewler, told ELLE that the emerald-cut ring is “one helluva huge diamond.” He guessed that it “is an emerald cut of between 11 carats and 15 carats.” Ira Weissman of Diamond Pro said that the ring could be worth up to $5 million. In any case, several jewelers agreed, it starts at at least $1 million. J-Lo is used to extravagant rings like this one. In 2002, Ben Affleck gave her a 6.1-carat pink Harry Winston diamond that was worth $2.5 million and was the talk of Hollywood engagement rings for some time.