Paul McCartney Springs for $650,000 Ring

In case you haven’t heard, Sir Paul McCartney is hearing wedding bells once again. After his first wife, Linda, died from cancer, no one thought he would be able to move on. But then he met Heather Mills and love was in the air. Of course, their six-year marriage ended in a very public legal battle (in which the former model received a settlement worth more than £24 million). So no one would have been surprised if the former Beatle had soured on marriage. And yet, just three years after his nasty divorce, it seems like he has once again been bitten by the love bug. Says McCartney of his latest conquest, “I just like being in love.”

The soon-to-be Mrs. McCartney is 58-year-old New York socialite and businesswoman Nancy Shevell, who unlike Heather Mills, has her own fortune (made by father Mike Shevell in the trucking industry). Whether or not this makes her a safer bet for marriage is anyone’s guess, but it seems like McCartney feels that way. Not only has he basically thrown the idea of a pre-nuptial agreement out the window (lawyers have only produced a one-page document for the couple to sign, agreeing that she won’t go after his children’s trust funds in the event of divorce), but he has also presented his lady love with a ring that is reportedly valued at $650,000 (£400,000).

The huge rock, a 5-carat, round-cut diamond in a platinum band, is a vintage Cartier creation from 1925. That’s a whole lot more ring than the £15,000 diamond-and-sapphire ring he presented to Heather Mills. And boy, does it sparkle! The newly engaged Shevell has been showing it off ever since the proposal and it seems like she has already been accepted into the family because she recently paired it with a Stella McCartney ensemble while shopping in New York.

As for wedding plans, it seems they are just about as laid back and lovely as the couple themselves. The event will be a small affair, largely devoid of the celebrity presence that punctuated McCartney’s lavish wedding to Mills. The bride seems to prefer an understated family gathering, and the couple plans to wed at Shevell’s holiday home (ceremony and reception to take place in the backyard). It might be considered quaint if it wasn’t in the Hamptons.