All the details on Princess Beatrice's stunning engagement ring

Princess Beatrice is engaged! 

On Thursday, the royal family announced that Queen Elizabeth's granddaughter, 31, is set to wed millionaire Edoardo Mapelli Mozzi after becoming engaged in Italy earlier this month. 

5 PHOTOS
Princess Beatrice's engagement photos!
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Princess Beatrice's engagement photos!
Princess Beatrice engaged to Edoardo Mapelli Mozzi (Credit: Instagram/Sarah Ferguson)
Princess Beatrice engaged to Edoardo Mapelli Mozzi (Credit: Instagram/Sarah Ferguson)
Princess Beatrice engaged to Edoardo Mapelli Mozzi (Credit: Instagram/Sarah Ferguson)
Princess Beatrice engaged to Edoardo Mapelli Mozzi (Credit: MISAN HARRIMAN)
Princess Beatrice engaged to Edoardo Mapelli Mozzi (Credit: MISAN HARRIMAN)
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"We are extremely happy to be able to share the news of our recent engagement. We are both so excited to be embarking on this life adventure together and can’t wait to be married," the couple said in a statement released by the palace.

The announcement included a handful of engagement photos, three of which were taken by Princess Beatrice's sister, Princess Eugenie. An up-close photo of Beatrice's ring shows off the piece's timeless detailing.

It seems that the 34-year-old groom-to-be spared no expense on the royal's ring, which ring experts estimate to be a 3.5-carat diamond worth approximately $75,000 to $100,000. Jewelry designer Shaun Leane is behind the ring and worked with Edoardo on the piece.

19 PHOTOS
Princess Beatrice and boyfriend Edoardo Mapelli Mozzi together
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Princess Beatrice and boyfriend Edoardo Mapelli Mozzi together
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Edoardo Mapelli Mozzi and Princess Beatrice attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Sarah Ferguson, Duchess of York, Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
WINDSOR, UNITED KINGDOM - MAY 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 24 HOURS AFTER CREATE DATE AND TIME) Princess Beatrice and Edoardo Mapelli Mozzi attend the wedding of Lady Gabriella Windsor and Thomas Kingston at St George's Chapel on May 18, 2019 in Windsor, England. (Photo by Pool/Max Mumby/Getty Images)
LONDON, ENGLAND - APRIL 15: Princess Beatrice of York (L) and Edoardo Mapelli Mozzi seen on a night out at 34 restaurant on April 15, 2019 in London, England. (Photo by Ricky Vigil/GC Images)
LONDON, ENGLAND - APRIL 15: Princess Beatrice of York (R) and Edoardo Mapelli Mozzi seen on a night out at 34 restaurant on April 15, 2019 in London, England. (Photo by Ricky Vigil/GC Images)
LONDON, ENGLAND - APRIL 15: Princess Beatrice of York (L) and Edoardo Mapelli Mozzi seen on a night out at 34 restaurant on April 15, 2019 in London, England. (Photo by Ricky Vigil/GC Images)
LONDON, ENGLAND - MARCH 28: Edoardo Mapelli Mozzi and Princess Beatrice seen on a night out leaving Annabel's on March 28, 2019 in London, England. (Photo by Ricky Vigil M/GC Images)
LONDON, ENGLAND - MARCH 12: Princess Beatrice of York and Edoardo Mapelli Mozzi attend The Portrait Gala 2019 hosted by Dr Nicholas Cullinan and Edward Enninful to raise funds for the National Portrait Gallery's 'Inspiring People' project at the National Portrait Gallery on March 12, 2019 in London, England. (Photo by David M. Benett/Dave Benett/Getty Images)
LONDON, ENGLAND - MARCH 28: Edoardo Mapelli Mozzi and Princess Beatrice seen on a night out leaving Annabel's on March 28, 2019 in London, England. (Photo by Ricky Vigil M/GC Images)
LONDON, ENGLAND - MARCH 12: Princess Beatrice of York and Edoardo Mapelli Mozzi attend The Portrait Gala 2019 hosted by Dr Nicholas Cullinan and Edward Enninful to raise funds for the National Portrait Gallery's 'Inspiring People' project at the National Portrait Gallery on March 12, 2019 in London, England. (Photo by David M. Benett/Dave Benett/Getty Images)
LONDON, ENGLAND - MARCH 12: Princess Beatrice of York and Edoardo Mapelli Mozzi attend the Portrait Gala 2019 at the National Portrait Gallery on March 12, 2019 in London, England. (Photo by Samir Hussein/Samir Hussein/WireImage)
LONDON, ENGLAND - MARCH 12: Princess Beatrice of York and Edoardo Mapelli Mozzi attend the Portrait Gala 2019 at the National Portrait Gallery on March 12, 2019 in London, England. (Photo by Samir Hussein/Samir Hussein/WireImage)
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"Princess Beatrice’s timelessly elegant engagement ring appears to feature an estimated 3.5 carat round brilliant diamond set on a white gold or platinum band adorned with diamond baguettes," explained Brilliant Earth's Kathryn Money to AOL Lifestyle. 

Despite the ring's classic aesthetics, Money asserts that more and more customers, including the royals and Hollywood A-listers are opting for the trend. 

"Fancy cut (non-round) diamonds have been increasing in popularity, both when used as a center diamond and as accent diamonds," she continued. "In particular, baguette accents are having a moment with celebs such as J. Lo and Lindsey Vonn recently opting for this look."

For more royal engagement rings, scroll through below:

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Royal engagement rings
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Royal engagement rings
Grace Kelly and Prince Rainier
Prince Rainier III of Monaco announced their engagement in January 1956. The royal proposed to the actress with a stunning Cartier eternity band. 
Grace Kelly and Prince Rainier
The 10.5-carat diamond, surrounded by two baguettes was the second ring given by Prince Rainier. The first ring was a simple eternity band embellished with diamonds and rubies.  
Crown Princess Victoria of Sweden and Prince Daniel

Daniel Westling and Crown Princess Victoria of Sweden announced their engagement on February 24, 2009 in Stockholm, Sweden. 

Crown Princess Victoria of Sweden and Prince Daniel
The simple and single solitaire was a break from the traditional gold bands many brides sport in Sweden. However, on her wedding day, Victoria was presented with an additional diamond wedding band. 
Queen Elizabeth and Prince Philip
Prince Philip proposed in 1947 with a simple 3-carat solitaire surrounded by 5 diamonds on each side. 
Queen Elizabeth and Prince Philip
The ring featured diamonds taken from the tiara of Philip's mother, Princess Andrew of Greece. It was reportedly far too large for Elizabeth, who had it resized quickly to announce her engagement. 
Prince Charles and Princess Diana

Prince Charles and Lady Diana Spencer announced their engagement in London on Feb. 24, 1981. He proposed with a 12-carat blue sapphire ring that was surrounded by 14 solitaire diamonds, made by famed jewelers Garrad. 

It cost $36,000 to make at the time. 

Prince William and Duchess Kate
In 2010, Prince William proposed to Kate Middleton with the same ring.
Prince William and Duchess Kate

The blue sapphire and diamond ring is reportedly worth $500,000 today. 

King Felipe of Spain and Queen Letizia
Crown Prince Felipe of Spain proposed to Letizia Ortiz on November 6, 2003. 
King Felipe of Spain and Queen Letizia

The non-traditional eternity band featured 16 diamond baguettes and a white gold trim. It was designed by Suarez jewelers.

After the wedding, Letizia swapped the ring for a simpler band. 

Prince Carl Philip and Princess Sofia
Swedish Prince Carl Philip announced his engagement to Sofia in 2014 after four years of dating. He proposed with an 'unusual' ring that estimated over £10,073. 
Prince Carl Philip and Princess Sofia
The center stone is surrounded by a halo and features two split diamond eternity bands. 
King Willem-Alexander and Queen Maxima

Netherland's Queen Maxima and King Willem-Alexander got engaged in 2001 after two years of dating. The ring features an unusual color and shape. 

King Willem-Alexander and Queen Maxima

The oval-shaped orange diamond is surrounded by two additional teardrop diamonds. The color is symbolic of the color of the Netherlands. 

Experts valued the stone anywhere from £15,000 and £150,000, says The Daily Mail

Prince Andrew and the Duchess of York
Prince Andrew, youngest son of Queen Elizabeth and Prince Philip, proposed to Sarah Ferguson in 1986 with a ring by the same designer as Princess Diana's ring. The two had reportedly known each other since they were young children but divorced in 1996. 
Prince Andrew and the Duchess of York

The Duke proposed with an unusual ring -- an oval Burmese ruby flanked by ten diamonds arranged in a floral shape. The ring sits on a thin yellow and white band.

Ferguson's ring reportedly set the trend for ruby engagement rings throughout Britain. 

Prince Albert of Monaco and Princess Charlene
Prince Albert of Monaco proposed to Princess Charlene in 2010 with a stunning cut valued at over £50,000.
Prince Albert of Monaco and Princess Charlene
The 3-carat pear-shaped ring was designed by jewelers Maison Repossi and is embellished on both sides with white diamonds. 
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