You can’t put a price on love, but engagement rings? Well, they’re totally fair game. Kim Kardashian has had her fair share of diamonds offered up to her on one knee. How did new fiancé Kanye West’s blingy bauble measure up?

First, the stats. Kanye presented his bride-to-be a 15-carat Lorraine Schwartz ring on October 21. “We believe this is an emerald or cushion cut,” Mark Keeney of jewelry designer to the stars Ritani tells Wetpaint Entertainment. As for the “top quality diamond” on top: “We peg this in the $4 to 5 million range.”

Believe it or not, that estimate is actually on the low side (though not quite as low as MTV’s reported $1.25 million and E! News’s $2.5 to $3 million range). The folks over at New York Daily News report a price tag of $8 million. Kim, you sure you feel safe carrying that thing around on your finger? Sounds to us like it needs its own security team.

A rep for Lorraine Schwartz tells E! that Kanye came to the designer “about two weeks ago” with specific criteria in mind including that it be a non-conflict diamond with a completely ethical background and be Kimberly registered, an industry indication that the purchase of the diamond did not aid “rebel movements to finance wars against legitimate governments,” according to the Kimberley Process website.  

“Kim’s ring is D-flawless,” the rep adds. “It’s the best color, clarity, and cut there is. There’s no comparison!”

Kim, of course, is no stranger to jewelry, particularly of the nuptial variety. When ex-husband Kris Humphries popped the question, he too turned to designer Lorraine Schwartz. His ring weighed in at 20 carats and a reported value of $2 million. The price difference is likely because of that whole rarest kind on Earth bit. 

What do you make of Kanye’s expensive tastes? Only fitting for a woman like Kim Kardashian or a little too much? Ring in below.

Sources: RitaniThe Kimberley ProcessE! NewsMTV, E! News, New York Daily News

Elisabeth Kramer is an Assistant Editor at Wetpaint Entertainment and our resident Downton Abbey expert. Follow her on Twitter and Google+!