How Much Does Gabrielle Union's Engagement Ring Cost?

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By Rachelle Corpuz | December 23, 2013 9:21 AM EST

Gabrielle Union couldn't be so happier. After dating for quite some time, her boyfriend - Miami Heat star, Dwyane Wade, has finally popped the question.

Wade announced their engagement through Twitter and Instagram by posting a picture of the huge diamond ring. "She said YES!!! @gabunion," its caption reads. The picture on Instagram has over 300,000 likes now.

Wade's fans and followers immediately commented on the post and expressed their warm wishes to the basketball superstar.

"You are very smart by asking this beautiful queen to marry you," a fan wrote. "God bless and I wish you eternal happiness," another fan wrote.

Diamonds are a girl's best friend, but how much should an engagement ring cost? How much, does a guy have to spend, on an engagement ring? Well, the answer really depends on the financial situation. Wade has a lot of money so he can really spend a whole lot more.

Often times, a guy can get a decent and impressive engagement ring for under $5,000 or up to $10,000.

According to TMZ, the 8.5 carat cushion-cut diamond ring was worth just about $1 million dollars. The 2006 Sports Illustrated's Sportsman of the Year asked celebrity jeweler Jason Arasheben, provider of diamonds luxuries in Beverly Hills, to make the ring. Wade has apparently been looking for the perfect diamond for months. Arasheben found the perfect sparkler in Miami on his third visit.

Wade and Union started dating in 2009. They have been both married before. Union was once married to football player Chris Howard. They wed on May 5, 2001, but parted ways four years later. Union's divorce from Howard was finalised in 2006. Wade, on the other hand, was married to Siovaughn Funches, to whom he had two kids. Wade married Funches, who was his high school girlfriend, in 2002. He filed for divorce in 2007, which was granted in 2010.

Union is 10 years older than Wade, but it really doesn't show. She looks amazing and she certainly does not look her age. Wade's really smart in choosing a strong, smart, sexy, independent, and mature woman. Congratulations to both!

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