PHOTOS: 2011 Celebrity Weddings and Divorces
Aslam Bakshi, owner of Diamond Images U.S.A., says "The ring is a traditional Tiffany style ring with a pear shape diamond in the center along with two tapered diamond baguettes on each side. The center diamond should be at least 4-5 carats... with an approximate retail value of between $250K and $300K."
PHOTOS: The Cutest Couples of 2011
New Year's Eve party-goers Queen Latifah, Jessica White, Gabrielle Union and Dwyane Wade were on hand for the magical moment and will surely be at the couple's upcoming wedding.
Together, the couple have two kids -- LeBron Jr., 7, and Bryce, 4.