Queen Elizabeth II's engagement ring is one of the most recognized pieces of jewelry in the world - and with that comes a hefty price tag. Ahead of what would have been her 100th birthday, experts have put a modern price on the famous ring, which was designed by her husband, Prince Phillip. And according to Neil Dutta, the Managing Director at jeweler Angelic Diamonds, the ring is valued in the six-figure range today. Who designed Queen Elizabeth II's engagement ring? MEGA Queen Elizabeth II's engagement ring is unlike almost any other in royal history.