According to the current market, Deshaun's wedding band is worth between $1.1 and $1.3 million ... and Jilly's new band could go for between $500K and $650k.

Deshaun Watson proposed to longtime girlfriend Jilly Anais with a custom diamond ring with more than 20 carats and worth up to $2.5 million, jeweler Vikar Ahmed told TMZ Sports.