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

In case you haven't heard, Justin Bieber and Hailey Baldwin are engaged. TMZ first reported news of the engagement on July 8, the day after Justin popped the question in front of fans at a restaurant in the Bahamas.

Justin confirmed the engagement himself on Instagram this week and Hailey hasn't been shy about showing off her engagement ring now that the news is out. Speaking of that rock, TMZ now has details about the ring's backstory.

The website spoke to Jack Solow, the owner of Solow & Co., who said Justin reached out about buying a ring a few weeks ago after connecting with Solow through his manager, Scooter Braun. The ring Justin ended up going with was an elongated, oval-shaped diamond that's said to be between 6 and 10 carats with an estimated value of half a million dollars.

TMZ reports that Solow met Justin at his hotel in New York City to deliver the ring personally just before Justin and Hailey left for the Bahamas.

Justin and Hailey have seemed nothing but happy—no, make that elated—about the engagement. In his Instagram post confirming the news, Justin wrote:

Was gonna wait a while to say anything but word travels fast, listen plain and simple Hailey I am soooo in love with everything about you! So committed to spending my life getting to know every single part of you loving you patiently and kindLY. I promise to lead our family with honor and integrity letting Jesus through his Holy Spirit guide us in everything we do and every decision we make. 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. You make me so much better and we compliment eachother so well!! Can’t wait for the best season of life yet!. It’s funny because now with you everything seems to make sense! The thing I am most excited for is that my little brother and sister get to see another healthy stable marriage and look for the same!!! Gods timing really is literally perfect, we got engaged on the seventh day of the seventh month, the number seven is the number of spiritual perfection, it’s true GOOGLE IT! Isn’t that nuts? By the way I didn’t plan that, anyways My goodness does feel good to have our future secured! WERE GONNA VE [sic] BETTER AT 70 BABY HERE WE GO! “He who finds a wife finds a good thing and obtains FAVOR from the Lord!” This is the year of favor!!!!

Hailey has yet to publicly comment, but the ring does kind of speak for itself.