Experts have since examined the piece after Molly-Mae shared snaps of the giant gem in her latest upload posted on Instagram.
"Just call me… Molly Fury," she captioned the picture, smiling as she flashed the expensive-looking ring – attaching an old clip from Love Island.
"Anyone else keep zooming in on the ring," one follower commented – and jewellers have done just that, exposing the piece's price.
An expert told MailOnline: "Molly-Mae's engagement ring features an exquisite oval-shaped diamond that looks like 6 carats.
"If it's high colour and clarity, it could be worth an estimated £600k."
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They explained: "Oval diamonds offer a fresh take on the classic diamond solitaire, making them a unique choice for those who want to break away from tradition and stand out.
"This cut has become increasingly sought after with celebrities like Kourtney Kardashian and Hailey Bieber choosing this style."
Molly and Tommy met while shooting the fifth series of Love Island in 2019 and instantly became fan-favourites.
Celebrity friends flocked to Molly's Instagram announcement to send the pair well-wishes, with Love Island host Maya Jama leading the way.
She commented: "WE LOVE TO SEE IT! congratulations you cuteys."
While TOWIE legend Gemma Collins added: "So happy for you. congratulations."
In the sweet clip, Tommy is first seen holding the pair's baby before he hands her to Molly – quickly pulling out a ring and popping the question.
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