Meghan Markle’s Necklace Costs 8 Times More Than NYC Rent

We’ve been paying close attention to everything Meghan Markle has been wearing on her whirlwind royal tour through New Zealand. It seems that each of her outfits is somehow better than the last, and with all the traveling the Duke and Duchess of Sussex have been doing the past two weeks (in case you somehow missed it, their tour began with Australia, Fiji, and Tonga), we’re kind of losing our minds over the royal fashion.

At a reception for the Duke and Duchess at the Government House in Wellington, New Zealand, Markle wore one of her most standout eveningwear looks to date. It involved a custom tea-length dress from Gabriela Hearst, a Dior clutch, and a stunning diamond necklace that’s made our jaws drop for multiple reasons. Her Tattoo Pendant Necklace is by NZ-based jewelry designer Jessica McCormack and is set with nearly a full carat of brilliantly-cut diamonds. The design was inspired by the “beautiful spiral pattern found in Ta Moko,” and honors the indigenous people of the country, according to the brand.

But it’s the necklace’s price tag that really had out eyes bulging. Coming in at almost $12,000, we couldn’t help but make comparisons to the cost of rent in one of the most expensive cities in the country: New York. I chatted with one of Who What Wear’s NYC-based editors, Lauren, who explained the following: “Ballpark, I would say the average New Yorker pays anywhere from $1200 to $1800 on rent a month with at least one roommate. Don’t quote me on this though—this is just what I’ve gathered from most people I ask including my friends and co-workers who live in Manhattan.” With that estimate, Markle’s diamond pendant is equivalent to 8 times what the average New Yorker spends every month.

Scroll down to see how Markle wore the necklace and confirm its investment-worthy value.