Kat Dennings is engaged to Andrew W.K., and experts say her ring could have cost $75,000

• Actress Kat Dennings announced on Thursday that she's engaged to musician Andrew W.K.
• Rare Carat founder and CEO Ajay Anand told Insider that her ring could have cost $75,000.
• It's unclear as to how long the couple has been dating; they confirmed their relationship in May.

Kat Dennings is engaged to musician Andrew Fetterly Wilkes-Krier, better known as Andrew W.K.

The couple announced the news via Instagram on Thursday with three photos seemingly taken after he proposed.

"Don't mind if I do," Dennings wrote in her post, which included the first photo of her engagement ring.

According to Ajay Anand, the founder and CEO of diamond search engine Rare Carat, Denning's diamond and band could have cost $75,000.

Anand noted that her ring seemingly features a "four-carat cushion diamond with side stones set in white gold or platinum."

"The setting has a classic, tapered look," the gemologist said, adding that it's "a very safe and evergreen choice."

Cushion-cut diamonds, according to Anand, are "definitely a popular choice," and are probably the most popular after round stones.

Dennings' fiancé shared the same photos on his Instagram page, though he didn't include a written caption. Instead, he left the ring emoji.

It's unclear as to how long Dennings and Wilkes-Krier have been in a relationship, but the couple seemingly first publicly confirmed they were dating in coordinated Instagram posts on May 2.

"Oh haaaaaaaayyyyyyy," Dennings wrote alongside a photo of Wilkes-Krier kissing her forehead.

The musician, on the other hand, posted a photo that day of himself standing in front of a building with the caption: "Photograph by @katdenningsss."

He then followed up with a kissing photo two days later.

As Vanity Fair reported, Dennings has also tweeted about Wilkes-Krier twice in the past. She shared a meme featuring the musician on April 6, and she also sent him a tweet in 2014.