The sighting: When Kate Bosworth and Justin Long walked the Vanity Fair Oscar party red carpet, fans noticed that Bosworth was sporting a ring on that finger. The couple have since confirmed the rumors on Instagram: They’re engaged, and we have a new celeb engagement ring to admire!

The jewels: All we know for sure about this ring is that it is a beautiful solitaire with a large center diamond.

Hello! Magazine and Popsugar both ran a quote from Mike Fried of The Diamond Pro saying the ring appears to be a 10-carat solitaire worth $500,000. In contrast, jeweler Jessica Flinn told Harper’s Bazaar Arabia that the ring appeared to be 5 carats and likely worth a bit over $155,000.

Hello! Magazine referred to the stone as a round brilliant cut, but the couple have not confirmed any information about the ring.

I don’t think it’s a round brilliant – the way it reflects light in photos doesn’t feel like RBC to me. I think it’s a cushion or radiant cut, maybe even a luscious antique stone like an old mine.

The trends: What we know for sure about this ring fits the giant diamond/tiny band engagement ring trend, but bucks the biggest recent celebrity bridal trend by not being an oval diamond.

What do we think? I love this ring. It feels glamorous but also unfussy, which is the vibe that this very adorable celebrity couple emanate at all times.

But Becky, you might be wondering, why do you love this very simple celebrity engagement ring when you usually complain that simple celebrity engagement rings are boring?

A valid question, my friends. This one just floats my boat for some reason! Every time I see it, my brain goes, “Ooh, pretty.”

I give credit to the diamond itself: It’s not yet another ubiquitous oval, and the way it catches the light in photos makes me think it might be an interesting cut, either with unusual faceting or perhaps an antique diamond, just like my own engagement ring.

Judgment: 17/10 for a stunning celebrity solitaire