6/22/2016 1:00 AM PDT BY TMZ STAFF
We’ve learned that Iggy and Nick struck a deal … he gets the engagement ring back and she gets the car she had given him for Xmas.
Here’s the breakdown … the ring is 10.43 carats, and reportedly valued at half a mil.
As for the whip … a ’62 Impala is a classic … a cherry one can go for as much as $100k.
It sounds like Nick made off like a bandit, but here’s the twist. In California, and most states, an engagement ring is a gift in contemplation of marriage and if the nuptials never happen, the ring — by law — goes back to him.
As for the Impala, it was not tied to the marriage — it was a Christmas gift — so he did not have to give it back.
Now you know, Nick … for next time.