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Ace Young Proposed To Diana DeGarmo With $12,000 Ring!

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May. 24 2012, Published 5:00 a.m. ET

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By Radar Staff

True love isn't cheap!

When Ace Young proposed on the live finale of American Idol he gave Diana DeGarmo a ring valued at $12,000, RadarOnline.com has exclusively learned.

The .95 carat fancy yellow diamond ring he placed on Diana's finger is from David Webb — a fine jewelry company that was a favorite of actress Elizabeth Taylor.

Ace, 31, popped the question on the Idol stage in front of millions watching on Wednesday night.

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“We have conquered Broadway together, we have created new music together, we have an amazing group of people around us and, with the help of David Webb jewelry I have a way to make this fun last forever," he said while down on one knee.

“I love you to death. You’re my best friend. I want to make this last forever and I will do anything in my power to have the most amazing life together if you will have me. Diana Nicole DeGarmo, will you marry me?”

The teary-eyed singer happily accepted and told Ace, "I'm so speechless right now. Wow, babe, you picked a good one! My makeup's running!"

American Idol winner Phillip Phillips exclusively told RadarOnline.com that winning was “unreal, it hasn’t sunk in yet. It’s such a blessing.”

Phillips said he didn’t believe he would ever be the winner.

“Honestly I didn't think I would make it to the judges…I am the first to admit I can't sing, I am just one who likes having fun on stage," he said.

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