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When it comes to the time-honored tradition of purchasing an engagement ring, one of the first types you'll hear about is the halo engagement ring. This has been one of the most popular styles in recent years, prompting some jewellers and trend watchers to refer to it as "the halo craze." Halo rings were used in two of this year's greatest celebrity weddings: Lady Gaga's new $400,000 engagement ring is a sapphire with a diamond halo, according to celebrity journalists, and Nick Jonas proposed to Priyanka Chopra this fall with a cushion-cut diamond surrounded by smaller baguette stones.