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Hugh Hefner Gives Crystal Harris a $1 Million Engagement Ring — PIC

By Lindsey DiMattina, Hollywood.com Staff

Hugh Hefner has upped his game. After his fiancee Crystal Harris called off their wedding in 2011 and sold the $90,000 engagement ring (as estimated by the UK's Daily Mail) that Hefner gave her, the two are now back together and heading for the aisle once again. And with the original ring sold at auction, Hefner had to purchase a new sparkler for his bride-to-be. The 86-year-old Playboy head honcho didn't hold back when it came to the new bauble and clearly out did himself, spending over eight times what he spent on Harris' first diamond.

Harris, 26, posted pictures of her new, humongous diamond online, captioning the photo, ""My beautiful ring."" That it is. And Harris clearly has reason to show off her new stone because it cost Hefner quite a few pennies. Aslam Bakshi, owner of Diamond Images USA, Inc., tells Hollywood.com that the ring is estimated to be valued between $750,000 to $1 million. The center stone, a five-carat round brilliant cut diamond, alone is worth about $500,000. And 1.5 carats of side diamonds sit in a platinum, pave and channel setting.

Talk about breaking the billfold. Well, at least that's not something Hefner has to worry about — he clearly can afford to spend as much cash as he pleases.

Click Here to Launch Our Gallery of the Most Expensive Celebrity Engagement Rings!

Follow Lindsey on Twitter @LDiMat.

[Photo Credit: FayesVision/Wenn, Twitter]

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