A Super Bowl ring, in some ways, carries more prestige than the Lombardi trophy. It is more permanent, as players do not have to return it after a year. Part of what is special about them, however, is their unique nature.

No two years of Super Bowl rings are the same. Some are diamond-encrusted and attractive. Some are subtle. And, in general, almost no one knows how much they cost.

The exact cost of making a Super Bowl ring is a secret the league has chosen not to disclose. But there are some signs that show how the costs are increasing as the rings become more and more expensive.

Who will get a Super Bowl ring?

It’s not just players and coaches! Team owners have the latitude to offer a Super Bowl ring to anyone they want and that often includes cheerleaders and even janitors. And 2020 Collective Bargaining Agreement set rules that ensured practice squad players also got a ring, though it was allowed to be a “smaller amount” if team owners wanted.

How much does it cost to make a Super Bowl ring?

The price for a Super Bowl ring varies, often wildly. While the league did not provide a figure, some reports put the value of a set of team rings at $5 million or more. And the more the owners want them, the higher the price. In 2015, the New England Patriots gave players a ring with 205 diamonds, worth $5.475 million, approximately $36,500 each (according to ESPN).

Only a fraction of that cost is picked up by the NFL—roughly somewhere between $5,000 and $7,000 per ring. The team owners pay the rest.

How much is a Super Bowl ring worth?

Obviously, that varies based on the year, but on the rare occasions when former players put their rings up for auction, the price tags skyrocket, often topping $100,000. And if it’s Tom Brady’s ring, it could be worth more than $250,000, Rick Harrison, star of the reality TV series Pawn Stars and co-owner of the World Famous Gold & Silver Pawn Shop in Las Vegas, SPOKE Money.

Patriots owner Robert Kraft once sold his Super Bowl LI ring for charity, with the winning bidder paying more than $1 million.

Did the losing team get a Super Bowl ring?

Just like the players on the losing Super Bowl team get a nice financial bonus for playing in the Big Game, they also get their own jewelry, though it’s less prestigious. Those players will receive a conference championship ring, which may not be as blingy, but it still shows.

Who made the Super Bowl rings?

Most of the time to be Jostens. The jeweler, perhaps better known for his high school and college ring business, has made 38 of the Super Bowl ringsincluding the very first, designed by Vince Lombardi himself. Other rings were made by Balfour and Tiffany’s.

A version of this story was published on Fortune.com on February 11, 2024.

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