There are engagement rings -- and then there’s the monumental rock that singer Avril Lavigne now wears after she and Nickelback frontman Chad Kroeger announced their engagement this week.

The eye-popping, 14-carat diamond was first revealed to the world thanks to Hello! Canada magazine, which showcased Lavigne 27, and Kroeger, 37, on its recent cover.

The stars reportedly fell in love while they were in studio working on Lavigne’s fifth album. They dated for six months before Kroeger proposed.

Kroeger’s choice of engagement ring is remarkable for its size – and its bling factor.  Lavigne’s 14-carat diamond is as wide as a Canadian nickel.

“It’s a very rare commodity. It’s something that is acquired by very few,” said Myles Mindham, owner of the high-end Toronto store Mindham Jewellery.

What Kroeger paid for this extravagant token of love has also sparked much speculation.

“How much did it cost is the $64,000 question -- and it’s a lot more than that,” said Mindham.

“A stone like this could range from a minimum of $600,000 to as much as $3 million. Depending on how and where he acquired it, it will vary,” he said.

According to Mindham, pear-shaped diamonds have been a more traditional choice for brides-to-be over the years. However, the cut’s popularity could rise dramatically now thanks to Lavigne.

“When Kate Middleton got engaged that sparked requests for blue sapphires. Now that Avril has this ring it might pique interest in this pear-shaped cut,” he said.