With less than a month to go to Valentine's Day, when couples traditionally announce their engagement, the city's jewellery shops have never been busier.
Yet if you're still looking for inspiration for the style of that very special sparkler (and not the price!), here are the rings chosen by the celebrities who recently got engaged.
A four-carat Ashoka ring set on a pavé diamond-and-platinum band custom-designed by the William Goldberg Diamond Corporation. Ashokas are very rare -- only 10pc of rough diamonds have the potential to be cut this way.
The centre stone reportedly features 62 displayed facets and rounded corners to create an ultra-dazzling and sparkling effect.
Jim Toth (40), a Hollywood talent agent who manages Robert Downey Jr and Tobey Maguire, and Reese (34), star of Legally Blonde, announced their engagement on December 28, 2010.
Reese was previously married to actor Ryan Phillippe, and is mum to Ava (11) and Deacon (7).
A classic and simple solitaire engagement ring. It has a slim band and a sparkling diamond.
Singer Lily (25) is also wearing a diamond-encrusted band -- much like a wedding band -- which has people asking if the loved-up pair have already tied the knot in secret.
The Smile singer posted a picture of her two rings on her blog after a trip to a nail salon and with the caption "A girl can't do Manhattan sans manicure".
Sam Cooper (32), a building firm boss, whom Allen has described as "the love of my life", popped the question on the balcony of the couple's €950-a-night holiday hotel suite in Bali at sunset on Christmas Day, 2010.
A slender engagement ring with a dazzling round diamond set with pavé diamonds around it. The six-carat ring is rumoured to be worth a whopping €560,000, and there is no word as of yet on the designer.
Black Swan actress Natalie (29) showed off her ring for the first time at The Palm Springs International Film Festival on January 5, and news of her engagement and pregnancy broke on December 27, 2010.
The lucky man is French-born Benjamin Millepied (33), who has been a professional ballet dancer since the age of eight, and who choreographed the dancing in Black Swan, which opens on Friday.
The 18-carat oval sapphire surrounded by diamonds was originally worn by Princess Diana. The late princess caused a scandal in 1981 by not having her ring custom-made and instead choosing a ready-made design. Today, the ring is estimated to be worth millions because of its royal associations, and cost in the region of €30,000 when bought.
Prince William (28) and Kate's (29) engagement was formally announced on November 16, 2010, but William had popped the question while the couple were on vacation in Kenya during October, 2010.
The prince said of the ring he presented to his long-term girlfriend: "Of course it's very special to me and Kate's very special to me now as well -- and it's only right the two are put together.
"It was my way of making sure my mother didn't miss out on today and the excitement and the fact we're going to spend the rest of our lives together."
A diamond and sapphire engagement ring which bears a striking resemblance to Kate Middleton's.
The Girls Aloud star (29) showed off her engagement ring for the first time after jetting in from the Maldives last week, after a post-festive break during which DJ boyfriend Tom Crane (29) got down on his knees and proposed on New Year's Eve.
Tom is believed to have bought the ring some weeks ago from Hatton Gardens in London, and secretly stowed it in his luggage before the pair flew out to the Indian Ocean islands just after Christmas.
The happy couple are planning on throwing a massive Club Tropicana-themed engagement party at London's Mahiki club.
A platinum stunner featuring a five-carat oval diamond set in rose gold fleur-de-lis, is estimated to have cost in the region of €65,000.
Country singer LeAnn Rimes (28) and actor Eddie Cibrian (37) announced their engagement via Twitter just after Christmas, 2010.
The couple initially endured public scrutiny when they began their romance while they were both married to other people. Cibrian and Rimes met on the set of a movie, Northern Lights, they filmed together.
They have both since divorced their respective former spouses and are planning a 2011 wedding.