Karol G was drippin' in diamonds at the VMAs ... all the bling combined was worth north of $2 mil ... according to the jeweler who gave her the goods for her big night.
Celebrity jeweler Eric Mavani tells TMZ ... he was hired to provide Karol with all the bling she needed for Tuesday night's event, which turned out to be A LOT.
Eric The Jeweler says her chain was 90 carats strong -- 30 pink pear-shaped diamonds, and 60 white oval-shaped diamonds. That accessory would set ya back a mil.
But, that's not all ... she also wore a 10-carat pink heart ring worth $900k and 40-carat bracelets costing $250k each. She had on some blue, white, and pink flower drop earrings that are 10 carats and worth $75k.
Were told the grand total was around $2.5M ... and all those carats must've been a good-luck charm, because she took home the award for Best Collab with Shakira.
BTW, some folks thought Karol was snubbed by not winning Artist of the Year and Best Latin.