02/26/2013 11:50 am ET Updated Apr 28, 2013

Details of Nick Carter's Engagement Ring

"Am I your fire? Your one desire?" Remember these Backstreet Boys lyrics, circa 1999? Well Nick Carter of BSB could have proposed with these lines to girlfriend Lauren Kitt on Feb. 20 on a secluded island in the Florida Keys. The boy-band frontman and fitness expert/actress were vacationing down south when Nick surprised Lauren with a swimsuit proposal on what they are now calling "Engagement Island."

Or could he have been referring to the fire in the whopping 7-carat pear-shaped diamond engagement ring in his hand? That's right. Carter, 33, presented Kitt, 28, with a massive sparkler from posh Rodeo Drive jeweler XIV Karats in Beverly Hills.

Because we're dealing with such a high-end boutique, the color of the diamond is most likely at least F, and the clarity at least VS2. Additionally, the pear-shaped diamond is flanked by two baguette accent stones on either side that make the center stone appear even more sparkly. Therefore, taking into account the center stone's high carat weight, color and clarity, as well as the ring's side-stones, I would estimate the wholesale value of the ring at $400,000 and retail at $550,000-600,000.

Now normally when I review a celebrity engagement ring, I like to link to a similar diamond on the Internet that has a high-resolution image. This helps readers get a virtual feel for the size and sparkle of the diamond. But this iceberg is so massive that I couldn't even find a comparable diamond to show you! In other words, we are in a different league here, folks.

And it seems that Nick was aware of this fact as well: He told People magazine, "I had the ring in my pocket for two weeks. I was like, 'I don't want it anymore!' It was driving me insane. I just wanted to get it out of my hands and onto hers." Was it the weight of seven carats of blinding diamond in his pocket or the knowledge of the ring's price tag?

In any case, Nick, please get that ring insured. We want to be sure to see this delicious piece of precious eye candy on your bride for many years to come.