SHINE bright like a diamond', 'diamonds The second most popular cut is the princess cut. This is a square shape and is considered to be a more modern look. The other three cuts are all relatively rare when considering engagement rings. He’ll think nothing of spending £200,000 on a pair of real-life Cinderella shoes, the Princess diamonds set on a platinum band. Or if he really wants to push the boat out, he could go down on one knee with the £6.58 million blue diamond engagement .