Lauren Sánchez Wears Pearl-Adorned White Mini with Estimated 30-Carat Engagement Ring from Jeff Bezos

The Emmy-winning journalist and the Amazon founder have been dating since 2019

Just one day after a source confirmed to PEOPLE that Jeff Bezos and Lauren Sánchez are engaged, the couple was spotted in France seemingly celebrating their exciting news — and the bride-to-be was already all dressed in white.

The former journalist, 53, was wearing a white sparkly mini-dress with pearl beaded embellishment that featured slits up both sides of the short skirt. Sánchez wore her hair down and flowing around her shoulders and kept her makeup simple with black lined eyes and a pink lip. Bezos stayed casual in a blue button up shirt, khaki pants, and white sneakers.

Sánchez completed her outfit with clear heels and hoop earrings, but the accessory that had everyone talking was her enormous engagement ring, seen from the first time from the couple's yacht off the coast of France.

While little is known about the ring at the moment (besides the fact that it's enormous), jeweler and expert Briony Raymond estimated to PEOPLE that it "appears to feature a spectacular cushion cut diamond in the 25-30 carat range set in an ultra-classic four prong platinum mounting," which Raymond adds is "a magnificent ring perfectly suited to her fabulous style."

Raymond also notes that "the diamond appears to be extremely white; based on a clarity commensurate with such a high color grade, I would estimate the cost for such an extraordinary ring to be anywhere from $3 million to upwards of $5 million depending on the exact specifications of the diamond."

Related:Jeff Bezos and Lauren Sánchez Show Off Her New Engagement Ring on $500M Yacht — See Photos!

Sánchez appeared to be testing some wedding-worthy fashion over the course of the past few weeks, from the white tank and beige skirt she wore while showing off that sparkler on his $500 million yacht at the Cannes Film Festival, to the simple white sundress she wore to disembark in Ibiza earlier in May (pictured below)

Not to mention the dazzling two-piece mirrorball-esque number she wore to a party hosted by Vanity Fair and Prada (with editor-in-chief Radhika Jones).

On Tuesday, Sánchez posted a shot to her Instagram of her getting glam before another event, swiping on a coat of blush pink Kylie Cosmetics lip gloss to finish off her rosy glow and soft waves (perfect for a bridal Pinterest board, right?).

The pair made an appearance at the annual film festival on Saturday for the premiere of Martin Scorsese's Killers of the Flower Moon, an Apple Original Film starring Leonardo DiCaprio — and were seen at the event alongside Apple CEO Tim Cook.

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Recently, the pair been spending a lot of time together on the billionaire's new yacht, which features a wooden sculpture made in the likeness of Sánchez. Attached to the ship's prow, the design includes a necklace featuring the symbol for Koru, which is Māori for loop or coil. It's based on the spiral shape of an unfurling silver fern frond — a symbol that is special to the couple.

Koru symbolizes new beginnings — which Bezos has cited before on his Instagram — and a new phase of life, positive change, personal growth, and hope for the future.

Bezos posted a photo of Koru on Instagram on New Year's Day in a slideshow of pictures from his disco party celebration.

"The new year is also a great time to take stock and focus on personal growth, renewal, rebirth, and paying careful attention to each moment of your life," he wrote at the time. "The good and the bad. All of it. Celebrate and grow."

Related:Jeff Bezos Is Engaged to Lauren Sánchez: Source

Opening up about their life together in January, which marked her first solo interview since they couple went public with their relationship in 2019, Sánchez told WSJ. Magazine that Bezos "makes me laugh all the time" and "can be goofy."

"We love to be together and we love to work together," she added. "We fly together. We work out together. We're together all the time."

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