The eye-watering value of Selena Gomez's engagement ring value has been revealed.

The singer and actress, 32, shocked fans on Wednesday night by revealing she is now engaged to her boyfriend Benny Blanco after a year and a half of dating.

She revealed the news on Instagram, sharing the first photos of her massive diamond engagement ring with her 422million followers and penning: 'forever begins now..' in the caption.

And it has now been revealed the stunning ring could be worth upwards of £800,000 ($1 million).

Laura Taylor, a jeweller specialising in engagement and wedding rings at Lorel Diamonds told MailOnline: 'Benny's choice of engagement ring for Selena is an exquisite and timeless design, perfectly suited to her style.

'The ring features an incredible marquise-cut diamond at its centre, estimated to be around 8 carats, set on a yellow gold pavé band. 

'The marquise cut, with its elongated and pointed shape, is a statement choice, known for its brilliance and the way it elongates the finger, creating a striking and elegant look.'

The marquise cut dates back to the 18th century when King Louis XV of France commissioned a diamond shape that resembled the smile of his mistress, the Marquise de Pompadour.

Laura added: 'The pavé band, with its continuous row of smaller diamonds set closely together, adds an extra layer of sparkle and luxury, beautifully complementing the central marquise diamond. 

'This setting maximises the brilliance of the overall design while maintaining a sense of sophistication.

'The central diamond is likely of exceptional quality, with VVS1 clarity and colourless grading in the D-F range. I would estimate the ring to be worth upwards of £800,000 ($1 million), depending on the precise diamond specifications.'

In her engagement post she also included a photo of herself showing off her ring for the camera as Blanco, 36, wrapped his arm around her and kissed her head.

Blanco — a famed music producer — seemingly popped the question during a romantic nighttime picnic featuring Taco Bell.

The couple received an outpouring of love from their A-list celebrity friends, including Cardi B, Jennifer Aniston, Gwyneth Paltrow and Gomez's BFF Taylor Swift.

Swift — who has been friends with Gomez since 2008 — offered to be the couple's 'flower girl.'   

Blanco himself also left a cheeky comment in which he referred to Gomez as his 'wife.'

'hey wait… that's my wife,' wrote the musician, who earned nearly 150,000 'likes.'

Gomez has been dating Blanco since June 2023, though she did not confirm the relationship until that December.

At the time, she used Instagram to confirm to fans that she'd been secretly dating the hitmaker for six months and that he was her 'absolute everything.'

Previously, the Wolves songstress dated The Weeknd, Zedd, Nick Jonas, Taylor Lautner and was linked to a number of other stars, including Zayn Malik and The Chainsmokers' Andrew Taggart.

She also famously had an on-and-off relationship with Justin Bieber, 30, that spanned eight years, before they called it quits in 2018. He is now married to model Hailey Bieber, 28, and they welcomed a baby son in August.

Before getting romantic, Gomez and Blanco were friends for over a decade and even worked on music together.

He has produced three of the singer's biggest hits, including the 2021 tune I Can't Get Enough and 2015's Same Old Love.

Last month, Blanco revealed that it was Gomez who made the first move. 

'She asked me out. It was crazy, it was crazy. She literally asked me... like we were just talking, and then she said, 'You wanna get dinner?' And I went to the dinner, and I had no idea,' he explained on Kai Cenat's Twitch stream.

Blanco claimed he wasn't 'nervous' because he already knew Gomez on a personal and professional level.

'No [I wasn't nervous], 'cause I've been friends with her for years. We've been friends for like 10 years plus, maybe 15,' he told Cenat.

Blanco said he and Gomez got drinks but that he didn't immediately realize that he and the Rare Beauty founder were on a date.

'I didn't even realize we were on a date. And she was like, 'I would've worn something different to this date.' And I was like, 'Wait, what? We're on a date?' I had no idea. No idea we were on a date,' he said.

'She left early because she had to go somewhere to film a video the next day, and then we hung out like two days later, and then I was like, 'Yo, I think she likes me.' And then I literally just kissed her, and the rest is history.'

He went on to call Gomez his 'best friend.'

Also last month, Gomez spoke about her 'future' with Blanco during an interview with The Hollywood Reporter.

The Emilia Perez star has had a slew of high-profile romances from fellow Disney Channel star Nick Jonas to her nearly decade-long on/off relationship with Justin Bieber.

But she told the outlet that Blanco is the one man who has made her feel the 'safest.'

'This is the safest I've ever felt in [a relationship], and I see a future with this person,' she told the outlet.

The security Blanco provides has made her more comfortable with posting photos and videos of them online for her fans to see.

'And when you put a little bit out there, people are not as hungry to hunt you down,' Gomez noted.

The couple first sparked engagement speculation in August when eagle-eyed fans noticed Gomez had uploaded a selfie to her Instagram Story with her left wedding finger obscured by a pink heart emoji.

Adding fuel to the fire, the gossip site, DeuxMoi shared a 'tip' that Gomez 'got engaged over the weekend' while 'surrounded by friends at their usual beach house hang out' earlier that month.

Gomez seemed to shutdown the rumors when she emerged in public just days later without a ring on her finger.

Prior to Wednesday's engagement, Gomez and Blanco have both publicly discussed the possibility of getting married.

Gomez has previously revealed that she had plans to adopt a child herself if she didn't meet the right partner by age 35.

'I was alone for five years, and I got really used to it,' Selena said. 'A lot of people are afraid of being alone and I probably tortured myself in my head for like two years being alone, and then I kind of accepted it.

'Then I came up with my plan, which was I was going to adopt at 35 if I had not met anyone,' she said.

Gomez's adoption plans also stem from the fact that she cannot 'carry' children due to medical reasons, which includes a long battle with the chronic autoimmune disease Lupus.