The Golden Globes kicked off awards season on Monday, January 5, and as the glittering parade of stars walked the red carpet, all eyes were on Zendaya. Next to a Paraiba tourmaline and diamond necklace from Bulgari dune The actress debuted a new ring: a large diamond solitaire ring, which was believed to be her partner’s engagement ring Spider-Man Actor Tom Holland.

Although the couple has yet to officially confirm their engagement, sources including TMZ and People magazine reported that the British actor got down on one knee over the holidays. Another note is that as a brand ambassador, Zendaya is contractually obligated to only wear Bulgari jewelry during red carpet appearances. This is a common clause for major jewelry brands and the only exception to this rule is engagement rings.

No details have been released about the ring itself, but from the red carpet images it appears to be a geometric diamond – likely cushion cut or even old mine cut – set in an east-west direction in a yellow gold band. It’s an elegant choice that beautifully accentuates Zendaya’s Old Hollywood red carpet look and custom Louis Vuitton strapless terracotta gown. She mirrored the ring on the same finger of the other hand, with a Paraiba tourmaline ring from Bulgari from the same jewelry collection as her necklace.

Horizontal settings like East-West, seen in engagement rings on stars like Lily Collins in recent years, are a strikingly modern choice that allows more light to penetrate the stone, increasing its radiance. Experts agree that the stone probably weighs between five and six carats, but disagree about its value and origin.

The ring’s simple aesthetic and geometric shape foregoes an over-the-top design or pavé diamond details, giving it a minimalist appeal as a versatile, modern engagement ring that’s easy to style every day. There is speculation that the ring could be the East-West Cushion Diamond Button Back ring by London jeweler Jessica McCormack, known for her modern, statement jewels. after eagle-eyed commenters spotted the metal button at the back of the frame, a signature Jessica McCormack design that ensures greater comfort.

Tobias Kormind of 77 Diamonds believes the ring is “a large cushion-cut diamond in a white or yellow gold band” and estimates the solitaire to be “at least five carats in size.” The company makes similar rings for between $50,000 and $60,000, but other experts have suggested that Zendaya’s ring could be worth up to $500,000 depending on the quality of the diamond. Jillian Sassone at Marrow Fine sees the actress ushering in an engagement ring trend for East-West settings that “creates a beautiful balance between sophistication and individuality.”

Another option is an antique ring, probably from the Art Deco period of the 1920s or 1930s, when geometric cuts were fashionable. The couple would also have sourced an old-cut diamond (antique gemstones cut before the advent of modern machines and techniques) and had it designed in a bespoke setting.

The couple were both former child stars and met in 2016 Spider-Man film franchise and both are expected to appear in Christopher Nolan’s upcoming film The Odyssey.