Prince William proposed to Kate Middleton using his mother’s engagement ring. The ring features an 18 carat oval blue sapphire surrounded by 14 small diamonds in a cluster setting. In 1981, it was scandalous that the sapphire engagement ring was not designed especially for the princess. The ring cost $65,000. It is estimated that the 18 carat blue sapphire alone is worth $300,000 today. The whole ring is now estimated to be worth a half a million dollars!
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