Jeff Bezos and Lauren Sánchez are capping their roughly two-year engagement with an elaborate three-day wedding celebration in Venice, Italy.
The billionaire Amazon founder asked for her hand in marriage in May 2023 with an eye-popping diamond engagement ring.
Sánchez's engagement ring boasts a huge pink diamond, according to Vogue.
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Mike Fried, CEO of The Diamond Pro, told FOX Business the sparkling gem "appears to be close to 30 carats" based on photos he has seen.
"Pink diamonds are incredibly rare, among the rarest in the world," he said. "For a number of years, pink diamonds were found in the Argyle mines in western Australia, but they’ve since closed those mines. It is jaw-dropping to see a pink diamond of that size."
The diamond’s shape is cushion-cut.
Four prongs cradle Sánchez's diamond, with small stones set into its band, according to Vogue. There are reportedly a pair of pavé halos on the ring as well.
The ring would have an auction value of "around $5 million" if it "were to go on the open market," Fried said, noting it was "truly one of one."
"It’s impossible to overstate the uniqueness of such a rare pink diamond and a rough diamond that was able to be cut into a 30-carat polished diamond," he said. "Lauren’s ring may be an instant fashion icon, but it will likely end up in a museum with other iconic diamond jewelry pieces."
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In late 2023, Sánchez told Vogue Bezos asked her to marry him during a nighttime May proposal in which he had tucked the ring under her pillow for her to find. She said she thought she "blacked out a bit" when he "opened the box" to propose, per the outlet.
She said during the same interview she was "looking forward to being M rs. Bezos."
Reuters reported Friday that the high-profile couple made their way to San Giorgio, a well-known island in the Venetian lagoon. They are reportedly had their wedding ceremony there Friday.
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That came after Bezos and Sánchez commenced the three-day celebration of their nuptials with a welcome party at the Madonna dell’Orto Church the previous night, according to Page Six.
Approximately 200-250 people are said to be celebrating with the couple.
There has been speculation about how much Bezos and Sanchez would spend on their wedding. Some outlets estimated it could be around $10 million, while others suggest it could be much higher.