09/20/2012 04:12 pm ET

Blake Lively's Engagement Ring May Not Be As Expensive As Previously Reported

Blake Lively's shiny stunner makes it pretty clear that new hubby Ryan Reynolds went all out for their secret "I dos" on September 9.

But the details about the ring's price and karats are not so clear. Many media outlets have asked jewelers to speculate about the cost and size of the ring, and have reported that the ring cost $2 million and is 12 karats.

However, one source told E! Online Wednesday that both the price tag and karat count are off -- way off. The source says the ring is probably more like seven karats and "doesn't cost nearly" $2 million, but didn't comment on the exact price.

No one can deny that Lively's bling is beautiful: Reynolds picked a light pink oval diamond for his new wife, according to People. Watch the video above to see Lively's lovely ring.

Click through the slideshow below to test your knowledge of celebrity engagement rings!

Keep in touch! Check out HuffPost Weddings on Facebook, Twitter and Pinterest.