We need to have a serious chat about Paris Hilton's outrageous new engagement ring.

If one of your New Year’s Resolutions was to ‘care less about celebs who were cool more than 10 years ago’ then, I’m sorry to say, you’ve already failed.

Because here we all are, on the third day of 2018, and a full 14 years after she first uttered the words “that’s hot” on The Simple Life, scrolling through pics of Paris Hilton’s romantic engagement.

And by ‘engagement’ we most definitely mean ‘that giant, sparkling diamond that takes up no less than HALF her finger’.

The 36-year-old shared the happy news with her 7.9 million Instagram followers, posting pics (and a video, because WHY NOT) of her fiancé Chris Zylka down on one knee during a New Year’s trip to ski paradise Aspen in Colorado.

"I said Yas!" the Confessions of an Heiress author said, adding she was "so happy and excited to be engaged to the love of my life".

"I feel like the luckiest girl in the world! You are my dream come true! Thank you for showing me that fairytales do exist."

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Paris and Chris - an actor slash model - first met eight years ago, but didn't make their relationship 'social media official' until February last year.

But, aside from all the lovely-dovey details, there's something pressing about this engagement we need to discuss.

And it pertains to a certain big fat sparkler that now sits on the socialite and entrepreneur's ring finger.

Because it's huge. It's bigger than the seven kilo turkey I cooked my family for Christmas. Heck, it's almost bigger than Paris Hilton's ENTIRE FACE. Ok we might be ever so slightly exeragerating, but you get the point.

According to PEOPLE Magazine the ring is worth no less than US$2 million (AU$ 2.5 million) and features a 20-carat pear-shaped centre stone.

Oh, and just for fun, the platinum band also boasts another two carats of smaller diamonds, celebrity jeweler Michael Greene said.

Because, apparently, you can never have too many diamonds. Or something.

Surprisingly, Paris' newest ring is not the biggest she has ever owned: for five months back in 2005, Paris wore a 24-carat whopper on her ring finger while engaged to then-22 year old Greek shipping heir Paris Latsis.

It's rumoured the ring was worth US$5 million, which, in case you need to me reminded, is a whole THREE MILLION DOLLARS more than the one Chris just presented her with.

Paris was also reportedly briefly engaged to fashion model Jason Shaw in 2003 after she was spotted wearing a very suspicious ring on a very suspicious finger during their one year relationship.

But, we're not here to talk about Paris' failed past relationships or engagements, or the huge pressure Chris may or may not have faced at realising that other rich fellas richer had already presented the hotel heiress with a diamond ring.

Let's get back to this love story, shall we?

"Paris was not involved. Chris did it all," Greene said of the ring design process, which was completed in just two days instead of the "usual" three weeks.

"He wanted to do everything so perfectly. When he came to pick it up and opened up the box he literally started shaking."

We're assuming it's because Chris thought the ring was "so perfect" and not because he took one look at what he designed and thought 'MY GOD IT'S THE SIZE OF A HILTON HOTEL!'

Paris added to PEOPLE that she was also shaking while putting the ring on her finger. Again, we're assuming because it was so gorgeous and not because she realised wearing it would mean she would no longer have the use of her left arm.

We wish Paris and Chris all the happiness for their future together. We also hope the ring came with at least three of its own personal bodyguards...

LISTEN: Mia Freedman, Holly Wainwright, and Jessie Stephens check in on how they did during 2017, and come up with a word to guide their every move in 2018.

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