EXCLUSIVE: Read it here first...

Bachelor's Melissa vs. Jason: Revenge of the Ring?

Wed., Mar. 4, 2009 6:00 PM PST by Marc Malkin

ABC/MATT KLITSCHER; Neil Lane

Get that ring back!

Melissa should not have handed that diamond engagement ring back to Jason when he broke up with her on national television.

So says Christine Gallagher, author of The Woman's Book of Revenge: Tips on Getting Even When 'Mr. Right' Turns Out to Be All Wrong.

"I think she should insist that she keep that ring," Gallagher advises. "She should cash it in and she should have some wonderful vacation and be photographed all over the place having a great time."

And what a vacation she could have, considering how much the sparkler is worth.

The one-of-a-kind, 5.12-carat diamond and platinum ring from celebrity jeweler Neil Lane features a large marquise-cut rock in the center and is encrusted with 170 smaller ones.

Reps for Neil Lane and the show did not comment, but I'm told its estimated value is about $65,000.

But does Melissa have any rights to the ring? Traditional etiquette says it belongs to her because it's Jason who broke off the engagement.

"She should demand that ring, demand the show give her the ring," Gallagher says. "She should make big deal out of it. That ring is worth a ton of money, and it could be a nice little cash prize for her. I know that would make me feel better."

Better yet, Melissa could enjoy the vacay with her new man. She taped an appearance on Ellen DeGeneres' show earlier today and revealed she's happily dating again.

"I’ve known him for two years and kind of done the dating on and off," Melissa said during their chat, which airs tomorrow. "He has been my biggest rock and supporter throughout this whole process. He’s become my best friend."

So, should Melissa try to cash in just leave it alone and move on? Let the words of advice begin.