Justin Bieber Reportedly Spent Half a Million Dollars on Hailey Baldwin Engagement Ring

Justin Bieber and Hailey Baldwin became engaged on July 7 during a vacation to the Bahamas, and the singer proposed with a massive ring that has quickly become the subject of speculation when it comes to the price of the hefty rock.

According to TMZ, that price is around half a million dollars, with sources quoting the number.

On Wednesday, Bieber confirmed on Twitter that New York City-based jeweler Solow & Co. was responsible for his fiancée's stunning sparkler, writing, "Thank you @solowco," along with a ring emoji.

TMZ spoke to owner Jack Solow, who shared that he met Bieber through the singer's manager Scooter Braun. Bieber reached out to Solow about purchasing a ring a few weeks ago, and Solow delivered the piece to Bieber's hotel in New York just before he and Baldwin left for the Bahamas.

The ring is an elongated oval diamond between six and 10 carats sitting on a slim band accented with even more stones.

Solow told People that Bieber wanted to ring that would accentuate Baldwin's "beautifully-shaped hands."

"Justin did have a hand in selecting the diamond because I sent videos to his team," the jeweler shared. "I know him through [his manager] Scooter Braun. When it came time to find a ring, Justin asked Scooter and said, 'I'm ready to pop the question' and he said, 'There is only one place to go, ask Jack.'"

"In the end, Justin wanted something that would gracefully accentuate Hailey's beautifully-shaped hands," he continued. "We settled on an oval stone that was just exceptional in its length and grace. Look at her hands — she's exquisite."

Solow added that Bieber gave the ring "a lot of thought."

"When I saw him, I think he was very happy about what we did together. He was in a very good head space for the decision he was making," he recalled.

"I showed him all the details and all the intricacies like I would give any other 25-year-old boy who would come to the office to buy an engagement ring," he said. "He seemed really excited. He was looking inside the diamond with the loop, and said 'I think I see Hailey's face.'"

After reports of the pair's engagement spread, Bieber confirmed the news with a post on Instagram.

"Listen plain and simple Hailey I am soooo in love with everything about you!" he wrote. "So committed to spending my life getting to know every single part of you loving you patiently and kindLY."

The "Sorry" singer continued, "My heart is COMPLETELY and FULLY YOURS and I will ALWAYS put you first! You are the love of my life Hailey Baldwin and I wouldn't want to spend it with anybody else."

Photo Credit: Getty / Gotham