The Hot Stuff

Miley Cyrus' Engagement Ring Cost $250,000!

Last year

Since it was announced officially last night all anyone can talk about is Miley and Liam Hemsworth's engagement -- and now it has been revealed that Miley's engagement ring is estimated to have cost a whopping $250,000!

Miley announced her engagement through People magazine on Wednesday (6June) -- revealing that Liam 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 jewellery 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 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.

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