Justin Bieber Spent a Lot on Hailey Baldwin's Engagement Ring

Another week, another young, filthy rich celebrity engagement. This time it's pop star Justin Bieber and model Hailey Baldwin, who reportedly got engaged over the weekend while on a trip to the Bahamas.

There are only a few photos of Baldwin's engagement ring, but those that do exist show a hefty, oval-shaped diamond set on a double band. Diamond and jewelry experts tell MONEY the ring likely cost hundreds of thousands of dollars — somewhere around $250,000 or higher.