Jay-Z paid $5 million for wedding ring

Jay-Z splashed out approximately $5 million on Beyonce Knowles’ wedding ring.

Although the couple married in a secret ceremony in April, the "Bootylicious" singer had so far refused to show off the band until she was seen on a Miami beach with younger sister Solange last weekend.

The eye-catching piece is believed to be from celebrity jewelers Schwartz, a long-time favorite of the star.

Mohammed Cimark, who runs Precious Gems and Jewels in London, confirmed the huge octagon-cut diamond was a rarity. He said: “If it is 18 carats then it’s a lovely size, an exceptional diamond. It’s clearly a premium stone. You can’t recognize the color from the photo and the clarity is hard to see, but the best clarity is internally flawless.”

The jeweler said he believed the stone had been sourced from Africa. He added to the MailOnline website: “Most diamonds this size you would get in South Africa or Sierra Leone. That’s where you get the biggest diamonds.”

The 5 million price tag is not likely to have troubled the rapper. Jay-Z – real name Shawn Carter - reportedly earned about $82 million last year from his live performances and album sales, as well as his many other ventures, including a hotel and clothing range.

Beyonce Knowles attends the Conde Nast Media Group's Fifth Annual Fashion Rocks at Radio City Music Hall on September 5, 2008 in New York City.