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Kate Middleton's engagement ring cost Â£28,000 when bought by Prince Charles for Diana in 1981. Kate Middleton's engagement ring cost Â£28,000 when it was bought by Prince Charles for the then Diana Spencer in February 1981. In today's prices the oval 18-carat blue sapphire surrounded by 14 diamonds would cost Â£85,000 - although Diana's is priceless.
10:06 AM PT -- IT'S A $700,000 RING!!!! We've learned ... it was made by Jason of Beverly Hills ... who's made engagement rings for all sorts of stars including Gabrielle Union and Evelyn Lozada. As for Russell's ring -- we're told it's a 6-piece elongated cushion cut ring with VVS clarity ... and in total, the whole thing is worth $700k.