Sunday, November 16 marked the 15-year anniversary of Prince William and Kate Middleton's 2010 engagement interview. While many royal fans rushed to copy Kate's blue Issa wrap dress, her sapphire-and-diamond engagement ring influenced trends just as much. The ring originally belonged to Princess Diana, and nearly 45 years later, the sparkling sapphire piece draws just as much interest—and holds considerably more value.
"Fifteen years later, it’s clear that William’s choice of his mother’s sapphire ring shaped not only their proposal, but a cultural shift in engagement jewelry," says Nilesh Rakholia, Founder of Abelini. The jewelry pro adds that Diana's engagement ring was considered "unusual" when Prince Charles proposed in 1981 since it wasn't a custom design like other royal brides received.
“The ring, originally created by Garrard for Princess Diana, features a 12-karat oval Ceylon sapphire set in 18-karat white gold and framed by 14 solitaire diamonds," Rakholia continues. "Its design drew inspiration from Queen Victoria’s sapphire-and-diamond cluster brooch, a wedding gift from Prince Albert in 1840."
Rakholia says that some people said Diana picked the "exceptional" ring because it was similar to her mother's, while "others believe she was drawn to its dramatic scale and striking color." However, he noted that "its power lies as much in its symbolism as its beauty" since the sapphire and diamond ring "links three generations of royal women—Victoria, Diana and Catherine—through design, memory and legacy."
During their engagement interview, William spoke about how giving Kate his mother's ring was his "way of keeping her sort of close to it all." The bride-to-be added, "It's beautiful...I just hope I look after it. It's very, very special." In 2023, the Princess of Wales revealed to a fan that the ring wasn't altered, as she was "exactly the same size" as Diana.
In recent years, the Princess of Wales has included additional rings to build a "thoughtful stack" rather than simply wearing the sapphire with her plain Welsh gold wedding band. She now wears two diamond eternity rings—one debuted after Prince George's 2013 birth—with her engagement ring, wedding band, a sapphire-and-diamond eternity ring believed to be Cartier's Étincelle de Cartier band.
"Together, these pieces form a personal narrative of marriage, motherhood and public service," Rakholia says. "The combination of white and yellow gold also reflects a broader trend: modern women mixing metals to create stacks that feel layered, collected and meaningful."
When it comes to valuation, the iconic royal engagement ring has jumped significantly in value. When Princess Diana chose the piece, it cost £28,000, or roughly $37,000. Rakholia says that 44 years later, "its value has risen by more than 1,150 percent, now sitting at approximately £350,000 to £450,000 in today’s market," or $461,000 to $592,000.
However, he notes that the ring's "cultural legacy and its place within the royal family render it, in many ways, priceless." Adding up the cost of her entire ring stack, the jewelry pro estimates the rings to be worth up to £515,000, or $678,000.
"Together, these pieces form one of the most significant and symbolically rich bridal stacks of any modern public figure — a blend of craftsmanship, heritage and love that tells a story spanning nearly half a century.”
