Miley Cyrus’ Ring ‘cost $250,000’

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June 7, 2012 | 7:26am EST

Miley Cyrus’ engagement ring cost an estimated $250,000, according to a new report.
The singer/actress announced on Wednesday her boyfriend Liam Hemsworth had proposed on 31 May after a three-year romance.
She was later snapped out and about in Beverly Hills, California sporting a diamond-and-gold ring on the third finger of her left hand, and an expert values the jewelry at a quarter of a million dollars.
Kenneth Lejman, a senior appraiser at the Gemological Appraisal Laboratory in the Big Apple, tells the New York Daily News, “Assuming it’s reasonably high quality, I would estimate it at $250,000.”
Jeweller Neil Lane, who designed the 3.5-carat piece for Australian actor Hemsworth, adds, “He wanted something really romantic and beautiful… It’s all handmade with a 19th century cushion-cut diamond.”
Cyrus and Hemsworth began dating after they met on the set of The Last Song in 2009.