Another royal wedding is on the way!

Royal fans around the world got the sweet news today that Princess Beatrice is engaged to Edoardo Mapelli Mozzi after a proposal in Italy earlier this month. "We are extremely happy to be able to share the news of our recent engagement," the couple shared in a joint statement released by Buckingham Palace on Thursday. "We are both so excited to be embarking on this life adventure together and can't wait to be married. We share so many similar interests and values and we know this will stand us in great stead for the years ahead, full of love and happiness."

In touching photos taken by Beatrice's younger sister, Princess Eugenie, curious fans can get a closer look at the stunning sparkler from her real estate developer beau, designed by British jeweler Shaun Leane. 

Per a press release, the ring is "a fusion of Victorian and Art Deco designs" crafted by hand and "set with excellent cut diamonds of the highest color and clarity." It was noted the diamonds are GIA certified and ethically sourced. 

The ring process included a consultation with Mozzi, resulting in "personal and sentimental signifiers for the couple" in the design. 

"I am so honored Edoardo chose to work with me to design the engagement ring for Princess Beatrice and to have been involved in this special moment in their lives," Leane said in a statement. "The bespoke experience was a beautiful journey; from imagining the design with Edoardo to the crafting of the finished rings. Being able to incorporate both Edoardo and Princess Beatrice's characters into the design has resulted in a unique ring that represents their love and lives entwining."

Princess Beatrice, Edoardo Mapelli Mozz

HRH Princess Eugenie

The ring features a round diamond estimated to be between three and four carats. "Few engagement ring designs are as timeless and elegant as a large round diamond center stone flanked by two tapered baguettes set in platinum," Ira Weissman, founder of The Diamond Pro, told E! News. "This one never goes out of style. With a center stone between three and four carats, and at a quality befitting a princess, this ring would sell for around $150,000."

Kathryn Money, Vice President of Strategy and Merchandising at Brilliant Earth, reiterated the diamond appears to be an estimated 3.5 carats, making the price tag approximately $75,000 to $100,000 depending on the quality and characteristics of the center stone. 

With a ring officially on her finger, the princess and her future husband can get to planning their big day, which as Buckingham Palace confirmed, is set for 2020. 

Congratulations to the future bride and groom!

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