President Trump reportedly lied about how much he paid for Melania Trump's engagement ring

Diamonds are forever — but lies aren't.

President Trump falsely boasted about getting a $1 million discount on his wife's dazzling engagement ring, according to a report.

Trump gushed to a New York Times reporter in 2005 that the London-based Graff Diamonds retailer chopped $1 million off the price tag for First Lady Melania Trump's oversized engagement band, which carries a diamond that weighs more than 10 carats.

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Melania Trump's engagement ring
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Melania Trump's engagement ring
ATLANTIC CITY, NJ - JUNE 11: Melania and Donald J. Trump attend a special, 'Donald J. Trump Birthday Quarter Million Dollar Giiveaway' celebration June 11, 2005 in Atlantic City, New Jersey. (Photo by Donald Kravitz/Getty Images)
Melania Trump's ring (Photo by J. Kempin/FilmMagic)
ATLANTIC CITY, NJ - JUNE 11: Melania Trump attends a special, 'Donald J. Trump Birthday Quarter Million Dollar Giiveaway' celebration June 11, 2005 in Atlantic City, New Jersey. (Photo by Donald Kravitz/Getty Images)
Melania Trump (Photo by Jon Kopaloff/FilmMagic)
Melania Trump during 57th Annual Primetime Emmy Awards - Arrivals at The Shrine in Los Angeles, California, United States. (Photo by Jon Kopaloff/FilmMagic)
Melania Trump during 57th Annual Primetime Emmy Awards - Arrivals at The Shrine in Los Angeles, California, United States. (Photo by Jon Kopaloff/FilmMagic)
Melania Trump during 'The Apprentice 4' Finale After Party - Red Carpet at Planet Hollywood in New York City, New York, United States. (Photo by Carley Margolis/FilmMagic)
Melania Trump during 'The Apprentice 4' Finale After Party - Red Carpet at Planet Hollywood in New York City, New York, United States. (Photo by Carley Margolis/FilmMagic)
NEW YORK - APRIL 26: A closeup view is seen of the engagement ring that Donald Trump gave to girlfriend Melania Knauss at the 'Dangerous Liaisons: Fashion and Furniture in the 18th Century' Costume Institute benefit gala on April 26, 2004 at the Metropolitan Museum of Art, in New York City. (Photo by Evan Agostini/Getty Images)
NEW YORK, NY - APRIL 09: Melania Trump (jewelry detail) attends 'Celebrity Apprentice All-Star Event With Donald and Melania Trump' at Trump Tower on April 9, 2013 in New York City. (Photo by Mike Pont/FilmMagic)
NEW YORK, NY - DECEMBER 05: Melania Trump attends European School Of Economics Foundation Vision And Reality Awards on December 5, 2012 in New York City. (Photo by Neilson Barnard/Getty Images for European School of Economics Foundation)
NEW YORK, NY - APRIL 20: A general view of Melania Trump's ring and watch during visit to SiriusXM Studio to promote her new QVC Melania Timepieces & Jewelry Collection on Cosmo Radio on April 20, 2011 in New York City. (Photo by Bennett Raglin/Getty Images)
US First Lady Melania Trump's ring is viewed during the Easter Egg Roll on the South Lawn of the White House April 17, 2017 in Washington, DC. / AFP PHOTO / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)
NEW YORK - FEBRUARY 09: A close-up view is shown of Melania Trump's ring at the annual presentation of the Mac Award to Melania Trump during Olympus Fashion Week at Bryant Park February 9, 2005 in New York City. (Photo by Frazer Harrison/Getty Images)
PHILADELPHIA, PA - DECEMBER 13: Melania Trump (jewelry detail) attends the Philadelphia Style Magazine holiday issue release party at 10 Arts Lounge at The Ritz-Carlton on December 13, 2011 in Philadelphia, Pennsylvania. (Photo by Gilbert Carrasquillo/Getty Images)
NEW YORK - MARCH 09: Melania Trump attends the 19th annual Bunny Hop hosted by the Associates Committee of The Society of Memorial Sloan-Kettering Cancer Center at FAO Schwarz on March 9, 2010 in New York City. (Photo by Bryan Bedder/Getty Images)
NEW YORK - SEPTEMBER 08: Melania Trump looks on as Dominika Cibulkova of Slovakia plays against Caroline Wozniacki of Denmark during her women's single quarterfinal match during day ten of the 2010 U.S. Open at the USTA Billie Jean King National Tennis Center on September 8, 2010 in the Flushing neighborhood of the Queens borough of New York City. (Photo by Matthew Stockman/Getty Images)
Detail of Melania Trump's wedding ring during her husband Donald Trump hearing before the Federal Financial Management, Government Information, and International Security Subcommittee Capitol Hill in Washington DC. (Photo by Ken Cedeno/Corbis via Getty Images)
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"Only a fool would say, 'No thank you, I want to pay a million dollars more for a diamond,'" Trump said at the time.

But Graff Diamonds' billionaire chairman Laurence Graff refuted the discount brag, telling Forbes that Trump was given "no favors" when he purchased the ring, which reportedly retailed at $1.5 million.

Graff added that Trump was "a pleasure to do business with."

A second source familiar with the engagement ring purchase said Trump flat-out lied to the Times reporter. "He paid for (the ring) in full, and he paid immediately," the person said.The White House did not immediately respond to emailed questions from the Daily News. The First Lady's spokeswoman declined to comment.

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Melania and Donald Trump: Their love story in photos
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Melania and Donald Trump: Their love story in photos
Real estate tycoon Donald Trump and his friend Melania Knauss pose for photographers as they arrive at the New York premiere of Star Wars Episode I: "The Phantom Menace," May 16. JC/SV/AA
Real estate magnate Donald Trump (L) and his girlfriend Melania Knauss leave Hollinger International's annual meeting at the Metropolitan Club in New York on May 22, 2003. Hollinger publishes The Chicago Sun-Times, The Daily Telegraph of London, the Jerusalem Post and other newspapers. REUTERS/Peter Morgan PM/ME
Donald Trump and his girlfriend Melania Knauss arrive at the Vanity Fair Oscar party at Morton's restaurant in West Hollywood, California, February 29, 2004. REUTERS/Ethan Miller REUTERS EM/AS
From left, Billy Crystal, host of the 76th annual Academy Awards, his wife Janice Goldfinger, Melania Knauss and her boyfriend Donald Trump, pose together as they leave the Vanity Fair Oscar party at Morton's restaurant in West Hollywood, California, early March 1, 2004. REUTERS/Ethan Miller EM
Developer Donald Trump (R) and his girlfriend Melania Knauss pose for photographers after the final show of "The Apprentice" April 15, 2004 in New York. Bill Rancic, a 32-year-old Internet entrepreneur from Chicago, edged out Kwame Jackson, a 29-year-old New Yorker and Harvard MBA, for the Trump-described "dream job of a lifetime" and its $250,000 salary. REUTERS/Jeff Christensen JC
Donald Trump's new bride, Slovenian model Melania Knauss, waves as they leave the Bethesda-by-the-Sea Episcopal Church after their wedding in Palm Beach, Florida, January 22, 2005. REUTERS/Gary I Rothstein
Sean 'P. Diddy' Combs (R) accepts an award from the Rush Philanthropic Foundation for his efforts to support public education and dedication to youth and social activism, from Donald Trump and his wife Melania (L) at Trump's Trumps Mar-A-Lago Club in Palm Beach, Florida on March 11, 2005. REUTERS/Jason Arnold MS
Donald Trump and his wife Melania Kanauss watch the Miami Heat play the New York Knicks in the first quarter of their NBA game in New York's Madison Square Garden, March 15, 2005. REUTERS/Ray Stubblebine RFS
Donald Trump (L) and his wife Melania arrive at the Museum of Modern Art for a reception in honor of Britain's Prince Charles and his wife Camilla, Duchess of Cornwall, in New York November 1, 2005. The Royals are on the first day of an eight-day visit to the U.S. REUTERS/Gary Hershorn
Donald Trump arrives with wife Melania at a reception in honor of Britain's Prince Charles and Camilla, Duchess of Cornwall, at The Museum of Modern Art in New York, November 1, 2005. REUTERS/Brendan McDermid
Donald Trump (L) and his wife Melania (R) arrive at the Museum of Modern Art for a reception in honor of Britain's Prince Charles and his wife Camilla, Duchess of Cornwall, in New York, November 1, 2005. The royals are on the first day of an eight-day visit to the U.S. REUTERS/Gary Hershorn
Real estate tycoon Donald Trump and his wife Melania attend a Miami Heat against the Los Angeles Lakers NBA game on Christmas Day in Miami, Florida, December 25, 2005. REUTERS/Marc Serota
Donald Trump stands next to his wife Melania and their son Barron before he received a star on the Hollywood Walk of Fame in Los Angeles January 16, 2007. REUTERS/Chris Pizzello (UNITED STATES)
Real estate magnate and television personality Donald Trump and his wife Melania stand on the red carpet at the Metropolitan Museum of Art Costume Institute Benefit celebrating the opening of the exhibition "Alexander McQueen: Savage Beauty" in New York May 2, 2011. REUTERS/Mike Segar (UNITED STATES - Tags: ENTERTAINMENT FASHION BUSINESS)
Businessman and real estate developer Donald Trump and his wife Melania watch Rafael Nadal of Spain play against Tommy Robredo during their men's quarter-final match at the U.S. Open tennis championships in New York September 4, 2013. REUTERS/Adam Hunger (UNITED STATES - Tags: SPORT TENNIS ENTERTAINMENT REAL ESTATE BUSINESS)
U.S. Republican presidential candidate Donald Trump (2nd from L) watches with his wife Melania as Serena Williams of the U.S. plays against her sister and compatriot Venus Williams in their quarterfinals match at the U.S. Open Championships tennis tournament in New York, September 8, 2015. REUTERS/Lucas Jackson
U.S. Republican presidential candidate Donald Trump kisses his wife Melania as he speaks at a campaign rally on caucus day in Waterloo, Iowa February 1, 2016. REUTERS/Rick Wilking
U.S. Republican presidential candidate Donald Trump speaks as his wife Melania listens at a campaign rally on caucus day in Waterloo, Iowa February 1, 2016. REUTERS/Rick Wilking
U.S. Republican presidential candidate Donald Trump reacts to an answer his wife Melania gives during an interview on NBC's 'Today' show in New York, U.S. April 21, 2016. REUTERS/Brendan McDermid
Melania Trump gestures at her husband Republican U.S. presidential candidate Donald Trump as they leave the stage, after she concluded her remarks at the Republican National Convention in Cleveland, Ohio, U.S. July 18, 2016. REUTERS/Mike Segar TPX IMAGES OF THE DAY
Melania Trump appears on stage after U.S. Republican presidential nominee Donald Trump speech at the Republican National Convention in Cleveland, Ohio, U.S. July 21, 2016. REUTERS/Mike Segar
Republican U.S. presidential nominee Donald Trump greets his wife Melania onstage after the conclusion of his first debate with Democratic U.S. presidential nominee Hillary Clinton at Hofstra University in Hempstead, New York, U.S., September 26, 2016. REUTERS/Joe Raedle/Pool
(L-R) Donald Trump Jr., Eric Trump, Republican U.S. presidential nominee Donald Trump, Melania Trump, Tiffany Trump and Ivanka Trump attend an official ribbon cutting ceremony at the new Trump International Hotel in Washington U.S., October 26, 2016. REUTERS/Gary Cameron TPX IMAGES OF THE DAY
Republican presidential nominee Donald Trump cuts the ribbon at his new Trump International hotel in Washington, DC, U.S., October 26 2016. REUTERS/Carlo Allegri
Republican presidential nominee Donald Trump kisses his wife Melania Trump at a campaign rally in Wilmington, North Carolina Florida, U.S. November 5, 2016. REUTERS/Carlo Allegri TPX IMAGES OF THE DAY
Republican U.S. President-elect Donald Trump kisses his wife Melania at his election night rally in Manhattan, New York, U.S., November 9, 2016. REUTERS/Jonathan Ernst
U.S. President-elect Donald Trump and his wife Melania take part in a Make America Great Again welcome concert in Washington, U.S. January 19, 2017. REUTERS/Jonathan Ernst
U.S. President-elect Donald Trump and his wife Melania take part in a Make America Great Again welcome concert in Washington, U.S. January 19, 2017. REUTERS/Jonathan Ernst
U.S. President-elect Donald Trump kisses his wife Melania as he attends his inauguration ceremonies on the Capitol in Washington, U.S., January 20, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump and first lady Melania Trump attend the Liberty Ball in honor of his inauguration in Washington, U.S. January 20, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and First Lady Melania Trump attend the 60th Annual Red Cross Gala at Mar-a-Lago club in Palm Beach, Florida, U.S., February 4, 2017. REUTERS/Carlos Barria TPX IMAGES OF THE DAY
U.S. President Donald Trump and First Lady Melania Trump greet a marching band as they arrive at Trump International Golf club to watch the Super Bowl LI between New England Patriots and Atlanta Falcons in West Palm Beach, Florida, U.S., February 5, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump hugs his wife Melania during a "Make America Great Again" rally at Orlando Melbourne International Airport in Melbourne, Florida, U.S. February 18, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump holds up H.R. 321 as his daughter Ivanka Trump (C) and U.S. first lady Melania Trump (2nd R) watch after it was signed in the Oval Office of the White House, in Washington, DC, U.S. February 28, 2017. REUTERS/Joshua Roberts
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A second diamond ring that Trump bought for his wife on their 10th wedding anniversary got the First Lady in trouble after she posed for her White House photograph wearing the massive rock. Scores of critics claimed that the First Lady disrespected working Americans by donning the $3 million ring for the official photo.

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