By Breaking Celebrity News 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, Breaking Celebrity News 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.

“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?”