The Black in Jewelry Coalition (BIJC) is hosting a competition in which one lucky couple will win a free yellow-diamond engagement ring, and one designer will earn a cash prize and other benefits.

The two-tiered “Together by Design” contest “celebrates Black love and jewelry design,” the BIJC said Monday.

In the competition’s first phase, which recently wrapped up, couples submitted their love stories for a chance to win a custom engagement ring. After a panel of judges selected the winning entry, the design phase kicked off on Monday, according to the BIJC.

Designers of all skill levels may enter to craft a bespoke engagement ring based on the winning couple’s love story. All submitted sketches must include the 1.44-carat, fancy-yellow diamond that jeweler Nungu Diamonds has donated for the occasion, and use platinum that Platinum Guild International USA will provide. They can also use donated accent stones from Anza Gems and B&B Fine Gemstones, though these are optional. The deadline for the contest is August 25.

Besides collaborating with the couple on the finished product, the winning designer will receive $5,000 in cash, educational scholarships for the Gemological Institute of America (GIA) and the GRS Training Center, and membership in both Jewelers of America (JA) and the Jewelers Vigilance Committee (JVC), the BIJC added.

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Main image: The yellow diamond that will be set in the engagement ring. (Black in Jewelry Coalition)