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Exclusive: All the Details on Miley Cyrus's 3.5-Carat Engagement Ring

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Courtesy Neil Lane. Inset: Charley Gallay/Getty

When Liam Hemsworth approached celebrity jeweler Neil Lane to create an engagement ring for Miley Cyrus, he wanted “something unusual,” Lane tells PEOPLE exclusively. “Something really beautiful and romantic.”

What The Hunger Games star got was a 3.5-carat cushion-cut diamond ring, handcrafted in 18-karat gold with intricately carved diamond floral motifs in an art nouveau pattern. And the center stone is extra special: it’s an antique dating back to the late 19th century.

“It was hand-cut around 1880 or 1890 and it’s unique and in its original form,” Lane says. “At that time no two diamonds were alike, as they were all hand-cut, so it’s fascinating to look at because it hasn’t been re-cut to look contemporary over the years. I find that really romantic.”

Lane sculpted the gold setting to fit the shape of the diamond, and set smaller diamonds in the gold to highlight the main stone. “It’s a contemporary design based on vintage aesthetics,” he says. “The light flashes and sparkles no matter where Miley moves her hand.”

Hemsworth was happy with the final result; Lane says the two “worked back and forth and it’s everything he was looking for.” Finished just last week, it was all ready for Hemsworth’s May 31 proposal (the news of which was shared exclusively by Cyrus with PEOPLE).

For her part, Cyrus seems to be pleased, too; the starlet Tweeted Wednesday, “Thank you for all the love today. I’m happy to share this news with you all. I feel like all my dreams are coming true.”

For more on Cyrus and Hemsworth’s engagement, pick up this week’s issue of PEOPLE, on newsstands Friday

–Reporting by Elizabeth Leonard

SEE MORE OF THE MOST BEAUTIFUL CELEBRITY ENGAGEMENT RINGS

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