Two weeks after Gwyneth Paltrow confirmed she’s engaged to Brad Falchuk, the actress has debuted her gorgeous new engagement ring! The 45-year-old stepped out at the Beverly Hilton Hotel in LA on Saturday, Jan. 20 to attend the Producers Guild Awards and showed off her massive rock from Brad, 46, at the star-studded event.

At the awards ceremony, Gwyneth looked stunning in a bright red Alex Perry dress and Christian Louboutin shoes. But it was her giant, sapphire ring from her fiancé that really completed her look. Gwyn’s fans actually got their first glimpse at her rock in the new issue of Goop magazine, but since the photo was in black and white, the ring’s center stone looked black. Now that we’ve seen it in color, we know the bauble actually features a dark blue stone — so pretty, right?!

gwyneth paltrow engagement ring getty images

(Photo Credit: Getty Images)

In a new interview, Closer Weekly exclusively spoke to Kathryn Money, Vice President of Strategy and Merchandising at Brilliant Earth, about Gwyn’s unique new rock. “Gwyneth’s ring features what appears to be a vivid blue premium round brilliant sapphire weighing between 10 and 13 carats (or 18 to 20mm). This gorgeous gemstone is showcased in a platinum setting with claw prongs at the compass points,” Money revealed. “Noting the center stone is likely very rare due to its size and gorgeous vivid hue, the estimated cost of the ring is between $300,000 and $500,000.”

Money also opened up about how Gwyneth’s new engagement ring from Brad differs from her first engagement ring from now ex-husband Chris Martin. “As you may recall, Gwyneth’s engagement ring from Coldplay frontman Chris featured an emerald cut diamond with a delicate diamond halo and band, a classic look. For this engagement, Gwyneth opted for a more unique and distinctive gemstone that makes a bold statement.”

Gwyneth and Brad previously announced their engagement after nearly four years of dating on Monday, Jan. 8. “We feel incredibly lucky to have come together at this juncture in our lives when our collective successes and failures can serve as building blocks for a healthy and happy relationship,” the couple told [Good Morning America]( in a joint statement. Gwyneth later opened up about her decision to get married again in Goop mag.

“Personally, at midlife, I have tried to accept how complex romantic love can be. I have decided to give it a go again, not only because I believe I have found the man I was meant to be with, but because I have accepted the soul-stretching, pattern-breaking opportunities that (terrifyingly) are made possible by intimacy,” she said. A source previously opened up to Us Weekly about the duo’s rumored engagement. “They both knew it would happen, but it wasn’t a big thing to them because they were both in long marriages before. There wasn’t a rush,” an insider said last fall.

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Gwyn and Brad have been dating since 2014 — just a few months after the Academy Award-winning actress, author, and entrepreneur “consciously uncoupled” from first husband Chris. The pair met on the set of the musical drama Glee, which happens to be just one of the many projects Brad has co-created and produced. He’s also behind the success of American Horror Story, Scream Queens, and Nip/Tuck. Gwyneth and Brad have four children between them, with Gwyn sharing Apple, 13, and Moses, 11, with ex-hubby Chris and Brad sharing his children, Isabella and Brody, with ex-wife Suzanne Falchuk. Congratulations to Gwyneth and Brad on their engagement!