Princess Diana’s niece, Lady Eliza Spencer, has announced her engagement, revealing a striking ring reportedly worth thousands. The 33-year-old model and cousin to Prince William and Prince Harry is set to marry her long-time partner, Channing Millerd.

Eliza shared the news on Instagram on July 31, showcasing a glittering diamond ring. In a subtle tribute to her late aunt, the former Princess of Wales, the ring features a halo setting—a design reminiscent of Princess Diana’s iconic sapphire engagement ring, now worn by Princess Kate. Jewellery expert Maxwell Stone, from Steven Stone jewellers, estimated the value of the sparkling rock at an eye-watering £40,000.

He explained that the breath-taking piece features a “dazzling 2.50 carat pear-cut diamond” that symbolises “elegance, individuality, and a love that endures.”

Maxwell added: “The stone is encircled by a delicate halo setting,” which provides a timeless touch and enhances the brilliance of the central diamond.

This thoughtful design element was a sweet, yet “subtle nod” to the iconic engagement ring worn by Princess Diana, which Prince William used to pop the question to Princess Kate over a decade ago, blending tradition with modern romance.

The famous ring, recognised around the world, features a deep blue, oval-cut sapphire surrounded by diamonds and remains one of the most iconic royal jewels in history, continuing its legacy through a new generation.

Maxwell also shared that “Eliza’s ring is likely set on a sleek platinum band, chosen for its durability and classic finish – a fitting tribute to a new chapter rooted in love, legacy, and enduring style.”

He estimated the sparkler to be worth around “$50,000 [around £37,500], putting it on the more modest end of the spectrum for royal engagement rings.”

Meanwhile he shared that today Princess Diana’s iconic ring, now worn by Kate, 43, would be worth at least £390,000.”

The striking sapphire and diamond design is not only a symbol of her connection to Diana but also a lasting emblem of her own royal journey.

However, in recent years, she has often been seen wearing a delicate eternity band alongside, or in place of the ring, which believed to represent enduring love and family, particularly following the births of her children.