Image: Jennifer Lopez –

Earlier this month, Jennifer Lopez announced in her ‘On The JLo’ newsletter that she had accepted her second proposal from Ben Affleck in the last twenty years. She also showed off her new engagement ring, which is believed to be centered with an 8.5 carat natural green diamond.

If that is indeed a green diamond, then I am stunned,” Diamond Pro CEO Mike Fried told Page Six Style. “A green diamond of that size is incredibly rare and would dwarf the value of their previous engagement ring. I would value the ring well over $5 million and could be worth more than $10 million.

Lopez’s first engagement from Affleck was a similar shape and style, but featured a pink diamond at the center. J.Lo has talked quite a bit about how the color green is “lucky” to her. In a previous newsletter, she wrote, “I always say the color green is my lucky color… Maybe you can remember a certain green dress. I’ve realized there are many moments in my life where amazing things happened when I was wearing green.

She also says green is featured in her home decor and art purchases.

I don’t buy a lot of art, but I bought this,” she shared. “One because I love hummingbirds, and two because I love the color green. Birds always fly around me. I’ve always had a special connection with hummingbirds. I realized that a lot of people say they symbolize love. So whenever it feels like wherever I go, they follow me. Whenever I am in a moment of doubt and confusion, one will magically appear by my window, reminding me that the universe will always speak to us if we are open to the signs.

Leading diamond expert, Zack Stone of Steven Stone jewelers, also believes this is a green diamond, one that has been treated with special techniques to bring out the specific hue.

Jennifer Lopez’s engagement ring is sensational,” Stone wrote. “With an incredibly vivid color, it looks like it could be a natural green diamond that’s been enhanced using HPHT temperature treatment, which is a well known method to change the color of a diamond.

Jennifer Lopez green diamond

Image: newsletter

Stone added that much like the first engagement ring, this one is likely worth millions.

The center stone is an estimated 9 to 10 carats, with an elongated cushion cut,” he explained. “It also looks to feature two tapered baguettes, making this a three stone ring. Taking all this into consideration, this is no doubt the most expensive engagement ring we’ve seen in a long time, with an estimated value of over $3,000,000.