When Chanel Fine Jewelry hosted the annual Fete d'Hiver in New York City, we were set to see some stunning baubles. Blake Lively's necklace certainly made a statement, but it was the delicate 'Ruban 1932' ring she wore that drove me to distraction.

"I'm so attached to everything Chanel," admitted the Gossip Girl, on hand to help raise funds for the Memorial Sloan-Kettering Cancer Center's Clown Care program. "But this pinky ring is just amazing!"

This breath taking 3.01 cushion cut diamond (surrounded by 246 brilliant cut sparklers) set on an 18k white gold "ribbon" setting can be yours for a mere $270,000.

I have no words to describe how I feel about this ring!