AceShowbiz - Mariah Carey is no longer the owner of the huge sparkler that her ex-fiance James Packer gave two years ago. The singing diva reportedly has quietly sold the 35-carat diamond engagement ring.

According to a source, Mariah asked one of her business managers to quietly sell the ring for $2.1 million to a Los Angeles jeweler. "A confidentiality agreement was signed, but the jeweler is currently selling it, and there's only one such ring," the source told Page Six.

"Mariah Carey's public relations people are desperately trying to keep the story from the press, and have threatened the jeweler with litigation if he discloses her name," the source added. It was said that the ring was worth way less than $10 million.

Another insider revealed that Mariah made decision to sell the huge sparkler because she's short on cash. "She owns multiple homes, her entire catalog of music, and she's had numerous successful tours and residencies," the insider shared.

The massive diamond right was part of the financial settlement which the "All I Need for Christmas Is You" hitmaker made in 2017 following her split from the Australian media mogul.

Mariah is currently gearing up for her new Las Vegas residency. The "Hero" hitmaker recently announced she would be returning to The Colosseum at Caesars Palace for another residency in July. Titled "The Butterfly Returns", the upcoming residency is dubbed to be more "intimate" than before.

"It's not like one of those extravaganza (shows)," she tells PEOPLE. "This is more like, 'Here we are, we're together. Oh, you want me to do this song tonight?' Maybe I'll take a request from the audience. My band are such great players and singers."

"It's more like the fan favorites," she adds of her setlist. "It's something else for me to feel connected with the fans through the songs."